Dividend policy

Subject to Board approval, Shell aims to grow the dividend per share by around 4 percent every year, and the Group will target the distribution of 20-30% of its cash flow from operations to shareholders. The Group expects over time to return cash to shareholders through a combination of dividends and share buybacks.

When setting the level of shareholder remuneration, the Board looks at a range of factors, including the macro environment, the underlying business earnings and cash flow of the Group, the current balance sheet, future investment and divestment plans, and existing commitments. It is our intention that dividends will be declared and paid quarterly.

  • Dividends are declared in US dollars and we announce the euro and sterling equivalent amounts at a later date.
  • Dividends declared on Class A shares are paid by default in euros, although holders of Class A shares are able to elect to receive dividends in US dollars or in pounds sterling.
  • Dividends declared on Class B shares are paid by default in pounds sterling, although holders of Class B shares are able to elect to receive dividends in US dollars or in euros.
  • Dividends declared on ADSs are paid in US dollars.

Historical dividend payments

You can download an Excel overview of historical dividend payments from 2006 to the current year in US dollar, GB pence and Euro.

Historical dividend payments (2006 - current year)

Dividend Reinvestment Plans

Dividend Reinvestment Programmes (“DRIP”) are available from:

  1. Equiniti Financial Services Limited (“EFSL”), for those holding shares (a) directly on the register as certificate holder or as CREST Member and (b) via the Nominee Service;
  2. ABN-AMRO NV (“ABN”) for Financial Intermediaries holding ‘A’ shares or ‘B’ shares via Euroclear Nederland:
  3. JPMorgan Chase Bank, N.A. (“JPM”) for holders of ‘A’ and ‘B’ American Depository Shares;
  4. Other DRIPs may also be available from the intermediary through which investors hold their shares

DRIP Offerors – EFSL, ABN, JPM and other intermediaries – provide their DRIPs fully on their account and thus not on behalf of Royal Dutch Shell plc. Therefore, interested parties should contact DRIP Offerors directly.


For further questions about dividend payments or dividend reinvestment plans please contact your bank, broker, custodian or financial institution directly.