Royal Dutch Shell is set to hand out £99 billion in dividend payments to shareholders over four years, the company said.

Bosses updated the City on its future financial plans, committing to the payments for between 2021 and 2025.

Shell also revealed it has cashed in £23.6bn from selling non-core businesses, and is expected to complete a £19.7bn share buyback by the end of next year.

Chief executive Ben van Beurden said: “We have reshaped our company with a focus on value and have demonstrated a clear track record of delivering on our ambitious promises made at our Management Day in November 2017.”

More to follow