Shell cuts dividend for first time since WWII on oil crisis

London (AFP) – Royal Dutch Shell on Thursday cut its dividend for the first time since the 1940s after a first-quarter loss — and warned virus-ravaged oil prices will take time to fully recover.The Anglo-Dutch group sank into a $24-million ($29.5-million) net loss in the three months to March — when oil went into freefall on tumbling demand and a price war between producers Saudi Arabia and Russia.That contrasted sharply with profit after tax of $6.0 billion in the same period a year earlier, the London-listed giant added in a statement.Earnings on a current cost-of-supplies (CCS) basis — s…

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HEDGE accordingly