By Chris Bailey | Thursday 30 April 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I know some dividend munchers will be crying into their cornflakes this morning, but the first Royal Dutch Shell (RDSB) dividend reduction in the post WW2 period is an overdue and sensible move. You may recall earlier in the week I chastised the new BP (BP.) CEO for seemingly kicking this decision out to a September capital markets day, despite clear evidence that it was required. I was listening to the Shell CEO on a financial TV channel earlier today and his comments around the twin impacts on the company from the coronavirus and the oil sector demand/supply imbalance issues are equally striking and kind of obvious...
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