He also said the cut in Shell's payout was a long-term "reset" of the company's dividend policy. Shell said it would reduce its quarterly dividend by two-thirds to 16 cents per share from the 47 cents it paid each quarter in 2019. If maintained for 2020 as a whole, Shell would save about $10 billion.

Source: International New York Times April 30, 2020 06:45 UTC