Shell keeps $3.5bn buyback despite Q4 profit slide — and debt jumps to $45.7bn
Shell’s Q4 adjusted earnings fell 40% to $3.26 billion, missing estimates. The company raised its dividend by 4% to $0.372 per share and launched a $3.5 billion buyback. Net debt climbed to $45.7 billion, lifting gearing to 20.7%. Brent crude prices slid nearly 20% in 2025, ending below $60 a barrel.
