Shell cuts dividend for first time since 1940s as oil demand collapses

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FILE PHOTO: A Shell logo is seen reflected in a car’s side mirror at a petrol station in west London, Britain, January 29, 2015. Picture taken January 29, 2015. REUTERS/Toby Melville

LONDON (Reuters) – Royal Dutch Shell RDSa. cut its dividend for the first time in 80 years and suspended the next tranche of its share buyback programme on Thursday following the collapse in global oil demand due to the coronavirus pandemic.

“Given the continued deterioration in the macroeconomic outlook and the significant mid and long-term uncertainty, we are taking further prudent steps to bolster our resilience, underpin the strength

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