Royal Dutch Shell’s (LON:RDSA) chief executive Ben van Beurden has landed €20 million for last year, more than double than the previous year’s payout, The Times has reported. The Anglo-Dutch energy giant updated investors on its full-year performance at the end of January, posting forecast-beating profits and announcing the third tranche of its share buyback programme.
Shell’s share price has been steady in London in today’s session, having added 0.61 percent to 2,379.50p as of 15:01 GMT. The stock is outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.37 percent higher at 7,185.49 points, as investors await a parliamentary vote on Brexit delay later today. The oil major’s shares have added nearly eight percent to their value over the past year, as compared with less than a one-percent gain in the Footsie.
Shell’s CEO lands €20m
The Times reported today that Shell’s chief executive had earned €20 million for last year, as a result of a long-term bonus scheme award of more than 550,000 shares in the Anglo-Dutch energy group, worth €15.2 million. The newspaper reports that the oil major group’s remuneration committee had decided against using their discretion to reduce the award.
The move, however, comes after Shell suffered a shareholder revolt last year when about a quarter of investors voted against van Beurden’s €8.9-million pay package.
Analysts on oil major
Barclays reaffirmed Shell as an ‘overweight’ this week, without specifying a price target on the shares. According to MarketBeat, the blue-chip group currently has a consensus ‘buy’ rating and an average price target of 2,936.07p.
RBC Capital recently trimmed its rating and price target on the Anglo-Dutch energy giant, cautioning that shareholder payout demands could restrict the group’s growth ambitions.