Shell Outlines Plan To Grow Free Cash Flow Per Share By Over 10% Annually Through 2030, Reinforces Low-Carbon Strategy

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Today Shell announces that it will:

  • Enhance shareholder distributions from 30-40% to 40-50% of cash flow from operations (CFFO) through the cycle1, continuing to prioritise share buybacks2, while maintaining a 4% per annum progressive dividend policy.
  • Increase the structural cost reduction target from $2-3 billion by the end of 2025 to a cumulative $5-7 billion by the end of 2028, compared to 20221.
  • Invest for growth while maintaining capital discipline, with spend lowered to $20-22 billion per year for 2025-20281.
  • Grow free cash flow3 (FCF) per share by more than 10% per year through to 20301.
  • Maintain the climate targets and ambition set out in Shell's Energy Transition Strategy 2024.
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