Shell cuts its dividend for the first time since World War II following a plunge in energy demand and oil prices amid nationwide lockdowns
LONDON—Royal Dutch Shell PLC cut its dividend for the first time since World War II after first-quarter profit fell by nearly half as the coronavirus pandemic hit.
Energy demand and oil prices have plunged in recent months as nationwide lockdowns restrict travel and hit economic growth. With some countries tentatively reopening their economies, Shell and its peers are bracing for the uncertain trading conditions to continue.
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