Shell plc completed a share‑buyback transaction on 30 December 2025, purchasing shares for cancellation as part of its $3.5 billion buyback program that was launched on 30 October 2025. The transaction was executed by Merrill Lynch International and represents the latest installment in a program scheduled to run until 30 January 2026.
The buyback reduces Shell’s issued share capital and supports its dividend and buyback commitments. By canceling shares, the company lowers the number of outstanding shares, which can help lift earnings per share and reinforce its policy of returning 40‑50 % of operating cash flow to shareholders.
The transaction reflects Shell’s confidence in its cash‑flow generation. Even after a Q3 2025 earnings‑per‑share miss of $0.93 versus a consensus of $1.62, the company maintained a strong balance sheet, enabling it to fund the buyback while preserving liquidity for future investments.
CEO Wael Sawan said the buyback demonstrates Shell’s commitment to shareholder returns while pursuing strategic priorities such as LNG expansion and cost discipline. CFO Sinead Gorman highlighted the strength of the balance sheet and the role of the buyback in preserving flexibility for future capital allocation.
The share repurchase is a routine but significant financing event that directly enhances shareholder value by lowering the share count and supporting the share price, reinforcing investor confidence in Shell’s capital‑allocation strategy.
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