From Breakingviews - Shell makes risky pitch for the middle ground
, while attempting to retain its credibility with investors more focused on environmental, social and governance concerns. He risks getting stuck in the middle.
It’s no coincidence that Sawan chose to launch his first capital markets day in New York. He has stressed that Shell, currently trading around five times expected 2024 earnings compared to twice that for its U.S. peers, merits more generosity. One part of his fix is to up payouts to shareholders to 30% to 40% of cash flow from operations, against 20% to 30% now. Shell will hike its dividend by 15% and spend $1 billion more on buybacks, starting in the second quarter.
At the same time, Sawan wants to flag he hasn’t forgotten climate change. He will invest $10 billion to $15 billion in so-called low-carbon solutions like biofuels and hydrogen between 2023 and 2025. That suggests a quiet retreat from areas like wind and solar, where European rivals BP
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Shell boosts dividend by 15%, maintains oil output through to 2030'We will invest in the models that work – those with the highest returns that play to our strengths,' Shell CEO Wael Sawan said in a statement.
Consulte Mais informação »
Breakingviews - Embracer’s standalone pitch hits the right buttonsSweden’s Embracer is entering a new phase. The $3 billion video-game holding company announced on Tuesday that it would slash costs and investments to achieve a more “stable future”. For CEO Lars Wingefors’ investors, it’s a welcome acceptance of reality. The maker of hit games such as “Dead Island 2” saw its share price rocket by almost 1,000% between 2018 and May 2021 as it gobbled up gaming rivals. But the stock more than halved in May, due in part to the unexpected collapse of a mystery “transformative partnership”, and in part to profit warnings, not helped by a soft gaming market.
Consulte Mais informação »
Breakingviews - Stellantis SPAC deal has suitably decent airbagsCarmakers are in a race to lock in battery metals like lithium. For shareholders, the risk is that they tie up capital in expensive supply deals, or mines in far-flung locations with poor governance. Stellantis’s investment in a London-based special purpose acquisition company deal looks like a neat fix to those challenges.
Consulte Mais informação »
Breakingviews - London crypto move is a sign of desperate timesUK Prime Minister Rishi Sunak is eager to bring some Silicon Valley glitz to London. Now venture capital investor Andreessen Horowitz is setting up its first non-US office in the British capital, to focus on blockchain and cryptocurrencies. Both parties could use a win.
Consulte Mais informação »
Breakingviews - Nasdaq futureproofs itself, but at 2021 pricesNasdaq is catapulting itself into the future - but paying yesterday’s high prices to get there. The U.S. exchange operator is buying Adenza, a software firm that serves banks and brokers, for $10.5 billion from private equity group Thoma Bravo. Adenza fits neatly with Chief Executive Adena Friedman’s mission to re-mold Nasdaq from a simple exchange into a general problem-solver for financial firms. That logic is compelling; the price of the deal is less so.
Consulte Mais informação »