THE HAGUE (dpa-AFX) - Shell plc (SHEL) on Thursday reported net income of $11.461 billion or $1.48 per share in the fourth quarter, compared with net loss of $4.014 billion or $0.52 per share in the same quarter a year ago. The company said its fourth-quarter earnings reflected higher contributions from LNG trading and optimisation and higher realised oil, gas and LNG prices.
Income before taxation for the fourth quarter was $16.269 billion compared with loss before taxation of $4.124 billion in the year-earlier period.
Adjusted earnings were $6.391 billion or $0.83 per share in the fourth quarter compared with $393 million or $0.05 per share last year.
Revenue for the quarter nearly doubled to $85.28 billion from $43.989 billion prior year.
Total revenue and other income jumped to $90.223 billion from $45.028 billion last year.
Shell added that its net debt was reduced to $52.6 billion at the end of the fourth quarter, compared with $57.5 billion at the end of the third quarter.
The company's Board declared an interim dividend of $ 0.24 per share to shareholders as on record February 18, to be paid on March 28.
Further, Shell decided to increase its first quarter 2022 interim dividend by nearly 4% to $0.25 per share, scheduled to be announced on May 5, 2022.
Additionally, Shell announced a share buyback of $8.5 billion in the first half of 2022. The company intends to complete the buyback by its second-quarter results, which is scheduled for July 28, 2022.
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