Oil giant Royal Dutch Shell (RDSA.AS) cuts the dividend due to the coronavirus and global oil demand collapsed. The company is lowering its quarterly dividend to $ 0.16 per share. Previously RD Shell paid $ 0.47 per share. It is the first time since World War II that Shell is reducing the dividend.
Based on yesterdays closing price of €17.28, the forward dividend yield drops from 10.9% to 3.7%.
Royal Dutch Shell is part of our international dividend portfolio and the rule is to sell any company which announces a dividend cut. This position will be closed (sold) later today.
