OIL:- Shell slashes dividend payment for the 1st time since WW2 in shadow of Covid-19 global economic impact.

[MasterOfCoin]

After a massive 46% fall in first-quarter net income to $2.9bn (£2.3bn), the oil giant has substantially cut payments to investors.

Shell announced it is cutting its quarterly dividend by two-thirds, from 47 cents to 16 cents, starting in the first quarter of this year.

This is the first time in 80 years the dividend has been cut and will be devastating to many investors, particularly pension funds.

A clear result indeed of the impacts unfolding in consequence of International Responses to Covid19.

The wider implications to oil companies and the global demand for oil may yet be beyond comprehension.

 

[Signalcalc]

After a massive 46% fall in first-quarter net income to $2.9bn (£2.3bn), the oil giant has substantially cut payments to investors.

Shell announced it is cutting its quarterly dividend by two-thirds, from 47 cents to 16 cents, starting in the first quarter of this year.

This is the first time in 80 years the dividend has been cut and will be devastating to many investors, particularly pension funds.

A clear result indeed of the impacts unfolding in consequence of International Responses to Covid19.

The wider implications to oil companies and the global demand for oil may yet be beyond comprehension.

All those 'safe' funds, are suddenly no longer safe.

If I was an elliot wave believer then this is the expected top of wave 2 up before we head into a longer wave 3 down which should surpass recent lows as we head towards a depression.

 

[Nowler]

'safe'

A dirty word.
Up there with "Hope"