10 Best European Dividend Stocks To Buy

3. Shell plc (NYSE:SHEL)

Dividend Yield as of December 20: 4.54%

Number of Hedge Fund Holders: 48

Shell plc (NYSE:SHEL) is a global energy and petrochemical company operating across Europe, Asia, Oceania, Africa, the Americas, and the United States. Shell is advancing its energy strategy, with projects like Mero-3 in Brazil starting up and the divestment of Shell Pakistan to improve its portfolio. Nigeria has also approved a $1.3 billion deal allowing Renaissance Africa Energy, backed by local companies, to purchase Shell’s onshore oil assets in the country. The sale aligns with Shell’s long-term goal of exiting operations in the Niger Delta region.

Shell plc (NYSE:SHEL) remains focused on LNG and low-carbon oil, adapting to shifting demand in the marine sector. Shell plc (NYSE:SHEL) is also emphasizing operational efficiency and resilience, with Q4 cash flow impacted by the Pearl GTL turnaround but overall confident in its financial strength.

Shell’s LNG business is a key growth area, with projects like LNG Canada and Qatar LNG. The company is also seeing improved performance in marketing, generating higher earnings with the same crude prices. Capital investment for 2024 is expected to be between $22 billion and $25 billion, with a focus on high returns and flexibility. On the environmental front, Shell has made significant progress in reducing emissions, achieving a 70% reduction in methane emissions and 90% in routine flaring since 2016. The company is on track to meet its ambitious Scope 1 and 2 emissions reduction targets by 2030 and is committed to reducing Scope 3 emissions as well. Shell remains dedicated to creating more value with fewer emissions and will continue to prioritize sustainability in its strategy.

Shell plc (NYSE:SHEL) announced a quarterly dividend of $0.344 per share, and $0.688 per American Depositary Share (ADS), which was distributed on December 19. Shell plans to increase its annual dividend by approximately 4%, subject to board approval and aims to distribute 30-40% of its cash flow to shareholders through dividends and share buybacks.

Insider Monkey’s database suggests that 48 hedge funds held long positions in Shell plc (NYSE:SHEL), compared to 49 in the last quarter. Boykin Curry’s Eagle Capital Management is a prominent stakeholder in the company, with shares worth almost $997.5 million.