Royal Dutch Shell plc announced its intention to commence a share buyback programme in accordance with authority granted by shareholders at the Company’s 2011 Annual General Meeting.
The purpose of the share buy-back programme is to offset dilution created by the issuance of shares for the Company’s Scrip Dividend Programme.
The Company expects to purchase only B ordinary shares, which will be cancelled. At this time, it is less economic for the Company to purchase A ordinary shares under the share buy-back programme due to Dutch dividend withholding Tax rules.
[mappress] Source: Shell, August 12, 2011;