Royal Dutch and Shell Transport completed their formal unification under a single new parent company Royal Dutch Shell in July 2005. Shell is best known for the exploration and production of oil and natural gas alongside its retail petrol stations across the UK. Shell’s other operations include producing petrochemicals that are used for plastics, coatings and detergents.
Royal Dutch Shell's fourth quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $2.2 billion compared with $7.4 billion in the same quarter a year ago. Full year 2013 CCS earnings were $16.7 billion compared with $27.2 billion in 2012.
* Royal Dutch Shell's third quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $4.2 billion compared with $6.2 billion in the same quarter a year ago.
* Third quarter 2013 CCS earnings excluding identified items (see page 5) were $4.5 billion compared with $6.6 billion in the third quarter of 2012.
* Compared with the third quarter 2012, CCS earnings excluding identified items were impacted by significantly weaker industry refining conditions, increased Upstream operating expenses and exploration expenses, as well as production volume impacts from maintenance and asset replacement activities. Earnings also reflected the impact of the challenging operating environment in Nigeria and lower dividends from an LNG venture. This was partly offset by higher contributions from Chemicals and increased underlying Upstream production volumes, led by Integrated Gas.
* Basic CCS earnings per share excluding identified items decreased by 32% versus the third quarter 2012.
* Cash flow from operating activities for the third quarter 2013 was $10.4 billion, compared with $9.5 billion in the same quarter last year. Excluding working capital movements, cash flow from operating activities for the third quarter 2013 was $9.9 billion, compared with $11.7 billion in the third quarter 2012.
* Capital investment for the third quarter 2013 was $9.7 billion. Net capital investment (see Note 1) for the quarter was $9.4 billion.
* Total dividends distributed in the quarter were $2.8 billion, of which $1.2 billion were settled under the Scrip Dividend Programme. During the third quarter some 45.5 million shares were bought back for cancellation for a consideration of $1.5 billion.
* Gearing at the end of the third quarter 2013 was 11.2%.
* A third quarter 2013 dividend has been announced of $0.45 per ordinary share and $0.90 per American Depositary Share ("ADS"), an increase of 5% compared with the third quarter 2012.
Royal Dutch Shell's second quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $2.4 billion compared with $6.0 billion in the same quarter a year ago. Second quarter 2013 earnings included an identified net charge of $2.2 billion after tax, mainly reflecting impairments (see page 6).
* Second quarter 2013 CCS earnings excluding identified items (see page 6), were $4.6 billion and included a combined negative impact of $0.7 billion after tax related to the impact of the weakening Australian dollar on a deferred tax liability and the impact of the deteriorating operating environment in Nigeria. Compared to the second quarter 2012, CCS earnings excluding identified items were also impacted by higher operating expenses and depreciation as well as increased exploration well write-offs. Second quarter 2012 CCS earnings excluding identified items were $5.7 billion.
* Basic CCS earnings per share excluding identified items decreased by 21% versus the same quarter a year ago.
* Cash flow from operating activities for the second quarter 2013 was $12.4 billion, compared with $13.3 billion in the same quarter last year. Excluding working capital movements, cash flow from operating activities for the second quarter 2013 was $8.4 billion, compared with $9.5 billion in the second quarter 2012.
* Capital investment for the second quarter 2013 was $11.3 billion. Net capital investment (see Note 1) for the quarter was $10.9 billion.
* Total dividends distributed in the quarter were $2.8 billion, of which some $0.8 billion were settled under the Scrip Dividend Programme. During the second quarter some 56.2 million shares were bought back for cancellation for a consideration of $1.9 billion.
* Gearing at the end of the second quarter 2013 was 10.3% (see Note 2).
* A second quarter 2013 dividend has been announced of $0.45 per ordinary share and $0.90 per American Depositary Share ("ADS"), an increase of 5% compared with the second quarter 2012.
The week beginning the 29th of July has fifty five companies that are covered by DividendMax reporting and declaring dividends on the London Stock Exchange. We are going to have a look at them and find some good dividend plays. We will look at the companies reporting that appear in the top thirty of the Optimiser and then move on from there. In order to make selection easier we choose a yield of over 4%. On Monday we have Reckitt Benckiser and Hammerson. On Tuesday we have BP, Informa and Tullet Prebon. On Wednesday we have British American Tobacco & Centrica. On Thursday we have Astra Zeneca, Royal Dutch Shell, BAE systems, Intu properties, UBM and RPS Group and finally on Friday we have Rexam, Man Group and Inmarsat.
Royal Dutch Shell's first quarter 2013 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $8.0 billion compared with $7.7 billion for the first quarter 2012.
* First quarter 2013 CCS earnings excluding identified items (see page 6) were $7.5 billion compared with $7.3 billion for the first quarter 2012, an increase of 3%.
* Basic CCS earnings per share excluding identified items for the first quarter 2013 increased by 2% versus the same quarter a year ago.
* Cash flow from operating activities for the first quarter 2013 was $11.6 billion. Excluding working capital movements, cash flow from operating activities for the first quarter 2013 was $11.5 billion.
* Capital investment for the first quarter 2013 was $8.8 billion. Net capital investment (see Note 1) for the quarter was $8.2 billion.
* Total dividends distributed in the quarter were some $2.7 billion, of which $0.8 billion were settled under the Scrip Dividend Programme. During the first quarter some 16.1 million shares were bought back for cancellation for a consideration of some $0.5 billion.
* Gearing at the end of the first quarter 2013 was 9.1%.
* A first quarter 2013 dividend has been announced of $0.45 per ordinary share and $0.90 per American Depositary Share ("ADS"), an increase of 5% compared with the first quarter 2012.
* Comparative information in this Report has been restated following the adoption of revised IAS 19 Employee Benefits on January 1, 2013, with retrospective effect (see Note 2). Comparative information was not restated for other accounting policy changes (see Note 1) for which the impacts are not significant, including the adoption of IFRS 11 Joint Arrangements on January 1, 2013, which results in certain previously equity-accounted entities now in effect being proportionately consolidated.
* Royal Dutch Shell's fourth quarter 2012 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $7.3 billion compared with $6.5 billion in the same quarter a year ago. Full year 2012 CCS earnings were $27.0 billion compared with $28.6 billion in 2011.
* Fourth quarter 2012 CCS earnings, excluding identified items (see page 4), were $5.6 billion compared with $4.8 billion in the fourth quarter 2011, an increase of 15%. Full year 2012 CCS earnings excluding identified items were $25.1 billion compared with $24.7 billion in 2011, an increase of 2%.
* Basic CCS earnings per share excluding identified items increased by 14% versus the same quarter a year ago. Basic CCS earnings per share excluding identified items for the full year 2012 increased by 1% versus 2011.
* Cash flow from operating activities was $9.9 billion in the fourth quarter 2012 and $46.1 billion for the full year. Excluding movements in working capital, cash flow from operating activities was $8.9 billion in the fourth quarter 2012 and $42.7 billion for the full year.
* Gearing at the end of 2012 was 9.2% versus 13.1% at the end of 2011.
* A fourth quarter 2012 dividend has been announced of $0.43 per ordinary share and $0.86 per American Depositary Share (ADS), an increase of 2.4% compared with the fourth quarter 2011.
* The first quarter 2013 dividend is expected to be declared at $0.45 per share and $0.90 per ADS, an increase of 4.7% compared with the first quarter 2012.
This article which appeared in the Saturday edition of the FT on 27th October talks about investors chasing dividends. It is a good read and vindicates our stance that the only reason to invest in equities at the present time is for Dividends.
5.5%
(26.4%)
