According to Dow Jones Newswires on November 28, the Royal Dutch Shell said on Tuesday that the company will cancel the scrip dividend plan from the fourth quarter of 2017 and at the same time, it plans to launch a $ 25 billion share buyback plan for 2017-2020.
Shell also said the company raised its endogenous voluntary cash flow forecast for the year to 2020 to between $ 25-30bn, based on the 2016 Brent crude oil price of $ 60 / bbl in real terms.
The company, which is implementing a $ 30 billion divestment plan, said it has completed a $ 23 billion divestment and has committed $ 2 billion in divestments and an additional $ 5 billion divestment plan in its later stages.Once the divestiture is complete, At least 2020 years ago the company will continue to strip its assets at an average rate of more than $ 5 billion a year.
Shell Group said debt reduction remains one of the company's major tasks, after the company will be stripped of more than $ 5 billion assets after the third quarter, the company's leverage ratio will be reduced to 20% after the divestiture of the asset.