(RTTNews) - Royal Dutch Shell plc (RDS-B, RDSB.L, RDSA.L, RDS-A) reported Thursday that its first-quarter current cost of supplies or CCS earnings attributable to shareholders fell 48 percent to $2.76 billion from last year's $5.29 billion.
Basic CCS earnings per share were $0.35, down from last year's $0.65.
Adjusted attributable CCS earnings were $2.86 billion, down from $5.30 billion a year ago. Adjusted CCS earnings per share were $0.37, compared to last year's $0.65.
For the quarter, attributable loss was $24 million, compared to $6.00 billion last year.
The latest results reflected lower realised oil, gas and LNG prices, weaker realised refining and chemicals margins as well as lower sales volumes.
Revenues for the quarter plunged to $60.03 billion from last year's $83.74 billion.
Further, the company said its Board has decided to reduce quarterly dividend to 16 US cents per share, starting the first quarter.
The decision reflects the risk of a prolonged period of economic uncertainty, weaker commodity prices, higher volatility and uncertain demand outlook.
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