"Shell Surpasses Profit Expectations, Increases Dividend and Announces Share Buyback"

Despite a decrease in annual income compared to 2022, Shell has raised its quarterly dividend and announced a new share buyback after surpassing consensus estimates for the fourth quarter and full year. The company reported adjusted earnings of $7.3 billion for Q4, exceeding estimates, and full-year earnings of $28.25 billion, beating forecasts. Shell's 2023 profits were impacted by lower oil prices compared to the previous year, but the results were better than expected, leading to a 3% increase in the company's shares. CEO Wael Sawan announced a 4% increase in dividend and a $3.5 billion buyback program, with the share repurchase expected to be completed by spring 2024.