Shell plc completed a share‑buyback transaction on 19 December 2025, repurchasing 1,967,666 shares at a volume‑weighted average price of £26.84 on the London Stock Exchange and €30.65 on Euronext Amsterdam. The buyback was executed by Merrill Lynch International and is part of Shell’s $3.5 billion share‑buyback programme that began on 30 October 2025 and will run through 30 January 2026.
The transaction reduces Shell’s issued share capital and reinforces the company’s disciplined capital‑allocation strategy. In the third quarter of 2025, Shell generated $12.2 billion in cash flow from operations and reported adjusted earnings of $5.4 billion, allowing the firm to maintain shareholder distributions at 48 % of operating cash flow—well within its target range of 40‑50 %. The buyback is therefore a routine financing event that signals management’s confidence in the company’s cash‑generating ability and its commitment to returning capital to shareholders.
The programme’s independent trading decisions are overseen by Merrill Lynch International, ensuring compliance with UK and EU market‑abuse regulations and UK listing rules. The daily repurchase schedule, which includes transactions on both the LSE and XAMS, demonstrates Shell’s consistent approach to capital returns, complementing its regular dividend payments. While routine buybacks typically generate muted market reactions, the transaction aligns with Shell’s broader objective of enhancing shareholder value through a balanced mix of dividends and share repurchases.
The share‑buyback on 19 December is one of many daily transactions under the programme, illustrating Shell’s sustained commitment to capital return until the end of January 2026. By reducing the number of outstanding shares, the buyback supports earnings per share growth and helps maintain a favorable valuation for investors, reinforcing the company’s long‑term financial strategy.
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