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Business reporter, BBC News
Royal Dutch Shell is set to hand out $125bn (£99bn) in dividend payments to shareholders over five years.
The company updated the City on its financial outlook this morning, committing to the payments for between 2021 and 2025.
It also revealed it has cashed in $30bn (£23.6bn) from selling non-core businesses, and is expected to complete a $25bn share buyback by the end of next year.
Chief executive Ben van Beurden said: "We have reshaped our company with a focus on value and have demonstrated a clear track record of delivering on our ambitious promises made at our Management Day in November 2017."
The rise in oil prices amid tensions in the Middle East has lifted the shares of UK oil majors BP and Shell.
Shares in both companies are up by about 1.4% so far today.
However, the increase has failed to lift the wider market, with the FTSE 100 index barely changed at 7,202.05.
Vodafone is one of the shares weighing on the market. The mobile phone network has dropped 4% following a report that the company could be about to cut its dividend.
Steve Clayton, manager of the Hargreaves Lansdown Select UK Income Sharesfund, which owns shares in Shell, said: “This is a robust performance from Shell. At first sight the numbers were pretty flat, but forecasts were for a much weaker outcome, so the market should be pleased with the results Shell’s delivered".
"Energy prices will always have a big effect on the short term results, but Shell is doing what it’s meant to, grinding out cash flow from a portfolio of top quality refining and production assets," he added.
The shares are up 2.5% at 2,472p.
Oil company Royal Dutch Shell has reported a 2% fall in first quarter profits and announced the latest stage of a share buy-back.
"The consistent financial performance across all our businesses provides confidence in meeting our 2020 outlook," said chief executive Ben van Beurden.
An activist group has withdrawn a shareholder resolution calling on Royal Dutch Shell to change its climate policy after the oil and gas company reached a broad agreement with investors on the issue, according to a Reuters report.
The Dutch activist group Follow This tabled a resolution urging Shell to drastically reduce its spending on fossil fuel.
But following talks with six of the 10 largest Dutch investors including Aegon and NN Investment Partners, Follow This decided to withdraw the resolution.
“We have therefore decided to give Shell time to bring that climate ambition into line with the Paris Climate Agreement,” Follow This founder Mark van Baal said in a statement.
Royal Dutch Shell has reviewed its lobbying operations and decided to leave one key US lobby group because of a disagreement over climate policies.
Shell will quit the American Fuel & Petrochemical Manufacturers in 2020.
The firm wants to show investors it's joining the dots over commitments to meet climate change goals.
“AFPM has not stated support for the goal of the Paris Agreement. Shell supports the goal of the Paris Agreement,” the Anglo-Dutch company said in its decision.
Shell said it also disagreed with AFPM’s opposition to putting a price on carbon and taking action on low-carbon technologies.
News that Shell is rebranding First Utility - the company it bought a year ago - as Shell Energy leads The Times' Business section, with the headline: "Shell's power play turns up the heat on Big Six".
The Guardian reports that record-breaking Autonomy high court fraud trial with the heading: "New charges against Autonomy founder allege plot to hide fraud".
In The Financial Times it's the May crisis story. The paper says: "May's battle to win over sceptics spurs doubts on survival chances".