Briefs: Shell and ABB

Briefs: Shell and ABB

Shell first quarter 2024 Euro and GBP equivalent dividend payments

  • By ICN Bureau | June 10, 2024

Shell first quarter 2024 Euro and GBP equivalent dividend payments

The Board of Shell plc today announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2024 interim dividend, which was announced on May 2, 2024 at US$0.344 per ordinary share.

Shareholders have been able to elect to receive their dividends in US dollars, euros or pounds sterling. Holders of ordinary shares who have validly submitted US dollars, euros or pounds sterling currency elections by June 3, 2024 will be entitled to a dividend of US$0.344, €0.3166 or 26.94p per ordinary share, respectively.

Absent any valid election to the contrary, persons holding their ordinary shares through Euroclear Nederland will receive their dividends in euros at the euro rate per ordinary share shown above. Absent any valid election to the contrary, shareholders (both holding in certificated and uncertificated form (CREST members)) and persons holding their shares through the Shell Corporate Nominee will receive their dividends in pounds sterling, at the pound sterling rate per ordinary share shown above.

Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from June 5 to June 7, 2024. This dividend will be payable on June 24, 2024 to those members whose names were on the Register of Members on May 17, 2024.

ABB files to voluntarily deregister and suspend SEC reporting obligations

On May 23, 2023, ABB delisted its American Depositary Receipts (ADRs) from the New York Stock Exchange. In the period between June 1, 2023, and May 31, 2024, the 12-month US Average Daily Trading Volume (ADTV) in ABB’s ADRs has fallen to below 5 percent of the ADTV worldwide. ABB now meets the requirements to apply to deregister and terminate the reporting obligations for its debt and equity instruments under the U.S. Securities Exchange Act of 1934, as amended (U.S. Exchange Act).

ABB is voluntarily filing today with the SEC a Form 15F to suspend immediately its reporting obligations under the U.S. Exchange Act. The deregistration and termination of its reporting obligations is expected to become effective 90 days after the filing, unless withdrawn by the Company or objected to by the SEC. The Company will continue to comply with its financial reporting and other obligations pursuant to applicable stock exchange listing rules – in particular the Listing Rules of SIX Swiss Exchange and the Nasdaq Stockholm Rulebook.

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