CORRECTED-Shell’s profit soars as it boosts dividend and launches buybacks – Reuters

CORRECTED-Shell’s profit soars as it boosts dividend and launches buybacks – Reuters

LONDON, July 29 (Reuters) - Royal Dutch Shell (RDSa.L) boosted its dividend and launched a $2 billion share buyback programme on Thursday after a sharp rise in oil and gas prices drove second quarter profits to their highest in more than two years.

As profits across the industry recovered from last year's pandemic-led collapse in energy demand, peers TotalEnergies (TTEF.PA) and Norway's Equinor (EQNR.OL) also announced share buybacks. read more

Shell's London-traded shares rose by over 3.5% by 0850 GMT, outperforming peers BP (BP.L) and TotalEnergies.