Shell divi is back to cash

SHELL signalled its recovery from the oil price crash of 2014 as it announced a return to all-cash dividends.

The oil giant is scrapping the scrip dividend programme, put in place two years ago, which gave investors the option of receiving payments in shares.

Shell has also increased its target annual cashflow to between $25-30billion (£18.9-22.7billion), with oil prices at $60 per barrel – up $5billion from last year’s guidance. It has nearly completed an asset disposals plan to reduce debt after its £35billion takeover of BG Group in 2016.