Shell to hike shareholder returns after oil price boost

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LONDON — Royal Dutch Shell on Wednesday said it will boost its planned shareholder returns beginning in the second quarter after a sharp rise in oil and gas prices helped it reduce debt.

In a trading statement ahead of its quarterly results, the Anglo-Dutch company said the acceleration of its planned distribution policy was due to “strong operational and financial delivery, combined with an improved macroeconomic outlook.”

As a result, Shell will retire its $65 billion net debt target, it said.

(Reporting by Ron Bousso, editing by Louise Heavens)

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