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Evening Standard
Evening Standard
Business
Michael Hunter

Shell under the spotlight in the City after record-breaking profit

The profit for 2022 is among the biggest annual haul ever made by a UK company (Anna Gowthorpe/PA)

(Picture: PA Wire)

The doubling of Shell’s annual profit to a new record left the UK’s largest company facing scrutiny in the City today about its future strategy and the scale of its plan to return cash to investors.

The energy giant pledged to return return $4 billion to investors via a share buyback. The 115-year old company also lifted its dividend payout by 15%, after its annual earnings powered through forecasts to a new record and one of the biggest profits ever seen in the UK at £32 billion.

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