Shell plc completed a share buyback transaction on 14 November 2025, purchasing 728,468 shares on the London Stock Exchange and 726,106 shares on the Amsterdam exchange for cancellation. The transaction was executed by Merrill Lynch International and was carried out in full compliance with UK listing rules and the Market Abuse Regulation.
The buyback is part of a $3.5 billion program announced on 30 October 2025, which is structured as two $1.75 billion contracts covering London and the Netherlands. The program allows Shell to repurchase up to 500 million shares before the end of January 2026, and the 1.45 million shares bought on 14 November represent a modest but significant step toward that target.
Shell’s chief executive, Wael Sawan, said the program reflects the company’s commitment to returning capital to shareholders while maintaining a progressive dividend policy. He added that the buyback is a “strategic tool” that helps align the company’s capital structure with its long‑term growth plans and supports the firm’s confidence in its valuation.
The transaction reduces the number of shares outstanding, which can lift earnings per share and improve return‑on‑equity metrics. It also signals to investors that Shell believes its shares are undervalued and that it has sufficient cash flow to fund the program without compromising investment in lower‑carbon and LNG initiatives.
Investors have responded positively to the buyback, citing the company’s disciplined capital allocation and strong cash‑flow generation as key drivers of confidence in Shell’s long‑term strategy.
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