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Shell and BP’s UK dividend payments surge on weaker pound

Andrew Ward, Energy Editor

Royal Dutch Shell and BP have delivered a Christmas bonus worth almost £500m to UK shareholders because of the depreciation of the pound against the dollar since the vote to leave the EU.

Both UK oil majors have made quarterly payouts this month that were a fifth higher than a year ago due to their practice of setting dividends in dollars and paying them in sterling.

FULL FT ARTICLE

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