"Given the continued deterioration in the macroeconomic outlook and the significant mid and long-term uncertainty, we are taking further prudent steps to bolster our resilience, underpin the strength of our balance sheet and support the long-term value creation of Shell," chief executive Ben van Beurden said.
Starting in the first quarter, Shell will reduce its quarterly dividend from 47 cents to 16 cents a share.
Shell has taken pride in having never cut its dividend since the Second World War, resisting such a move even during the deep downturns of the 1980s...."
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* --https://www.telegraph.co.uk/business/2020/04/30/cuts-dividend-first-time-80-years/
