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Shell Announces Massive $23 Billion Dividend Payout To Shareholders

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Shell Announces Massive $23 Billion Dividend Payout To Shareholders

Shell Plc announced a substantial return of $23 billion to its shareholders in 2023, as confirmed by the company’s Chief Executive Officer, Wael Sawan, on Thursday…..CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

 

 

 

Sawan emphasized that this payout aligns with Shell’s ‘progressive’ dividend policy, revealing, “In 2023, Shell returned $23 billion to shareholders. In line with our progressive dividend policy, Shell is now increasing its dividend by 4 percent. We are also commencing a $3.5 billion buyback program for the next three months.”

During the third quarter of 2023, Shell reported adjusted earnings of $7.3 billion, marking a notable 17 percent increase compared to the $6.2 billion adjusted earnings in Q3 2022. Sawan attributed this growth to robust operational performance and strong LNG trading and optimization results.

The cash flow from operations for the last quarter reached $12.6 billion, representing a 2 percent rise from Q3 figures. Sawan pointed out that the 2023 full-year shareholder distributions of $23 billion exceeded 40 percent of the cash flow from operations (CFFO) for 2023, totaling $54.2 billion.

However, despite these positive outcomes, the total CFFO for 2023 is 21 percent lower than the 2022 figure of $68.4 billion. Shell’s unaudited results for Q4 2023 and the full year highlighted that lower realized oil and gas prices, reduced volumes, and diminished refining margins influenced the 2023 income attributable to Shell PLC shareholders.

The report mentioned that Shell achieved $1 billion in pre-tax structural cost reductions compared to the full year 2022, primarily driven by divestments and organizational simplification. The full-year 2023 income also included net impairment charges and reversals of $6.2 billion, along with unfavorable movements of $1.3 billion due to fair value accounting of commodity derivatives. These factors contributed to identified items amounting to a net loss of $8.2 billion, in contrast to the net gain of $1.2 billion in identified items for the full year 2022.

In terms of depreciation, depletion, and amortization, Shell clarified that impairments recognized in the Upstream sector were mainly linked to projects in North America, Nigeria, and the UK, triggered by factors such as revised reserves estimates and portfolio decisions.

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Judiciary Under Fire: Momodu Demands Ruthless Purge Of Judges Issuing ‘Rascally’ Rulings!.

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Dele Momodu, a prominent member of the African Democratic Congress (ADC), recently declared that the judiciary must be prevented from sabotaging Nigeria’s democratic stability. Speaking on Channels Television’s Sunrise Daily, Momodu’s comments followed a Federal High Court ruling by Justice Peter Lifu, which ordered INEC to deregister the ADC and several other parties. The Court of Appeal subsequently stayed the execution of this ruling, labeling the initial judgment as the “highest form of judicial impertinence”.....KINDLY READ THE FULL STORY HERE▶

Momodu advocated for formal sanctions against judges who issue what he termed “rascally judgments,” arguing that judicial officers who ignore established legal procedures or orders from superior courts must face accountability to preserve public trust in the rule of law.

In a separate discussion on the Naija Unfiltered Podcast, Momodu revealed that he had previously encouraged Peter Obi, the presidential candidate of the Nigeria Democratic Congress (NDC), to form a political alliance with former Vice President Atiku Abubakar. Momodu noted that he urged Obi to work with Atiku—who originally helped elevate Obi to national prominence—by citing historical examples of leaders who ascended to the presidency after serving as deputies, such as former Ghanaian President John Mahama, Goodluck Jonathan, and U.S. President Joe Biden.

However, Momodu stated that Obi rejected this advice, maintaining that his own popularity surpassed that of the former Vice President. Momodu also recounted that when Atiku selected Obi as his running mate for the 2019 election, he remained steadfast in his choice despite significant opposition from party governors.

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Kwankwaso Fires Back! Opposition Brews Within NDC Over Controversial New Policy!.

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Senator Rabiu Musa Kwankwaso, the Nigeria Democratic Congress (NDC) vice-presidential candidate, has publicly endorsed the party’s new anti-defection indemnity form, calling it a positive step for the organization. Speaking through the Kwankwasiyya movement’s spokesperson, Habibu Saleh Mohammed, Kwankwaso emphasized that this policy is essential for fostering internal discipline and upholding the constitutional mandate linked to party-sponsored elected officials.....KINDLY READ THE FULL STORY HERE▶

The NDC implemented this loyalty affidavit specifically to curb the trend of elected representatives abandoning the party that secured their victory. Party National Chairman, Moses Cleopas, explained that this initiative is a direct response to the persistent issue of politicians defecting after utilizing a party’s platform to achieve office.

Kwankwaso’s camp maintains that this requirement aligns with the spirit of the Nigerian Constitution, which discourages officials from deserting their sponsoring parties. “What the party is trying to do is only imposing the position of the constitution of the Federal Republic of Nigeria. To a larger extent, this is what we’ve been talking about,” Mohammed stated.

Mohammed further noted that the Kwankwasiyya movement is no stranger to the damage caused by defections, citing the departure of former Kano State governor Abdullahi Ganduje as a prime example. Ultimately, the movement believes this new NDC measure will prevent politicians from viewing party platforms merely as temporary vehicles for electoral success.

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The Big Exception! Why Obi And Kwankwaso Are Exempted From NDC’s New Loyalty Pledge!

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Ikenna Enekweizu, the National Secretary of the Nigeria Democratic Congress (NDC), has defended the party’s new mandatory loyalty affidavit, asserting that the policy is both constitutional and a necessary measure to prevent defections. Speaking on Channels Television, Enekweizu emphasized that party members are legally bound to follow internal regulations, which the NDC has implemented to ensure its institutional longevity. The party aims to avoid becoming a “special purpose vehicle” for politicians who abandon their platform after winning office, a trend the secretary noted plagued the Labour Party after the 2023 general elections.....KINDLY READ THE FULL STORY HERE▶

While the policy applies to those running under the party’s platform, Enekweizu clarified that an administrative decision has been made to exempt the presidential candidate, Peter Obi, and his running mate, Rabiu Musa Kwankwaso. The party’s primary objective with this oath is to curb frequent defections among national and state assembly members rather than executive officeholders.

  • Purpose of the Oath: The NDC introduced the loyalty affidavit to protect its institutional integrity and prevent elected officials from using the party solely to win elections before defecting.

  • Legal Standing: Enekweizu argued that the policy is constitutional, citing “trite law” that requires members of any association to abide by its established constitution.

  • Targeted Demographic: The policy is specifically aimed at curbing defections among legislators, as the party is more concerned about members of the National and State Assemblies leaving shortly after their election.

  • Notable Exemptions: While the policy generally applies to candidates, Peter Obi and Rabiu Musa Kwankwaso have been administratively exempted from the requirement.

  • Motivation: The party leadership expressed a desire to learn from the post-2023 election experiences of other parties, such as the Labour Party, which saw significant turnover in its legislative ranks.

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