Shell plc completed a share‑buyback transaction on 4 December 2025, purchasing 1,457,504 shares for cancellation. The transaction was executed by Merrill Lynch International and is part of the company’s $3.5 billion buy‑back programme announced on 30 October 2025, which runs until 30 January 2026 and includes both on‑market and off‑market limbs.
The buyback reduces Shell’s issued share capital and is intended to support shareholder value. By cancelling the repurchased shares, the company increases earnings per share and signals confidence that its shares are undervalued. The programme is a key element of Shell’s broader capital‑return strategy, which also includes dividend payments.
Shell’s strong cash generation underpins the buyback. In the third quarter of 2025, the company reported adjusted earnings of $5.4 billion and $12.2 billion in cash flow from operations, giving it ample liquidity to fund the repurchase. The transaction is consistent with Shell’s history of substantial share‑buybacks—16 consecutive quarters of $3 billion or more—demonstrating a sustained commitment to returning capital to shareholders.
Management highlighted the programme as part of its disciplined capital‑allocation framework. The CEO and CFO emphasized that the buyback reflects confidence in the company’s long‑term prospects and the ability to generate excess cash while maintaining investment in growth opportunities.
The cancellation of 1.46 million shares reduces the share count, which is expected to lift earnings per share and enhance shareholder value. The buyback also reinforces Shell’s position as a shareholder‑friendly company, aligning its capital structure with market expectations and supporting long‑term investor confidence.
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