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Shell's 2020 profit plummets to 20-year low at $4.8 billion

Shell's annual adjusted earnings dropped to $4.8 billion, down 71% from a year earlier

twitter-logoReuters | February 4, 2021 | Updated 13:51 IST
Shell's 2020 profit plummets to 20-year low at $4.8 billion
Shell said it expected to raise its first-quarter dividend by 4% from the previous quarter

Royal Dutch Shell's 2020 profit dropped to its lowest in at least two decades as the pandemic hit energy consumption but the company boosted its dividend again in a sign of confidence.

Shell's annual adjusted earnings dropped to $4.8 billion, down 71% from a year earlier.

Its fourth-quarter profit was down 87% from a year earlier and below expectations, dragged down by continued weak energy consumption due to the pandemic.

Shell said it expected to raise its first-quarter dividend by 4% from the previous quarter.

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