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Shell, Awash With Cash, to Boost Dividend, Share Buybacks

Oil giant says strong earnings were tempered by weaker gas-trading results, lower fuel-refining margins

Shell said it would reward investors with a continued bonanza of cash payouts.Photo: William Lounsbury for The Wall Street Journal

LONDON—Shell PLC said it plans to boost its dividend and buy back another $4 billion of its shares in the coming months, as the oil major continued to benefit from strong demand for natural gas in difficult-to-navigate markets.

Shell on Thursday reported a higher third-quarter profit compared with the same period a year ago, even as price volatility in energy markets took a bite out of earnings in its core natural-gas trading business. Earlier this month, the company had warned that natural-gas price swings and lower margins from fuel-refining would cut into its third-quarter earnings.

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