August 30, 2023 [Best Stocks]- Insigneo Advisory Services LLC, a prominent institutional investor, has acquired a significant stake in Shell plc (NYSE:SHEL) during the first quarter of this year. As disclosed in their recent filing with the Securities and Exchange Commission (SEC), the company has purchased 24,230 shares of Shell’s stock, estimated to be worth around $1,396,000.
Shell plc is an energy company renowned for its global presence and diverse portfolio operating in various sectors of the energy industry such as oil, gas, and renewables. With this investment from Insigneo Advisory Services LLC, it is evident that the institutional investor sees potential value and growth prospects in Shell’s business.
Additionally, Shell recently made an announcement regarding its quarterly dividend payment schedule. Shareholders of record on Friday, August 11th will be entitled to receive a dividend payout of $0.662 per share on Monday, September 18th. This represents a positive change from Shell’s previous quarterly dividend rate of $0.58 per share. On an annualized basis, this new dividend amount equates to $2.65 per share and offers a yield of 4.34%.
The decision to raise the dividend demonstrates Shell’s commitment to delivering value to its shareholders and reflects management’s confidence in the company’s financial strength and future prospects. The increased dividend also indicates Shell’s ability to generate consistent cash flows and maintain attractive returns for investors.
Investors should take note that the ex-dividend date for this dividend payment is Thursday, August 10th. This means that any purchase of Shell shares made after this date will not entitle new shareholders to receive the upcoming dividend payout.
Currently, Shell’s dividend payout ratio stands at 32.40%, indicating that the company distributes approximately one-third of its earnings as dividends while retaining the remaining portion for reinvestment or other capital allocation purposes.
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