Royal Dutch Shell Cuts Dividend for First Time Since World War Two
- Energy giant reduces payout by two thirds as oil demand slumps
- Decision shocks investors who rely on Shell’s generous returns
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Royal Dutch Shell Plc cut its dividend for the first time since at least the Second World War as the oil slump triggered by the coronavirus pandemic reshapes the energy industry.
The surprise move is the latest illustration of how the international spread of the deadly disease is causing the biggest upheaval for generations. Energy consumption is undergoing a historic plunge, as is GDP growth in many countries. The global economy that emerges from the other side of the crisis may look very different.