On December 2nd 2016, Shell PLC announced the quarterly dividend of US$0.47 per A ordinary share (“A Share”) and B ordinary share (“B Share”).

https://irssl.euroinvestor.com/asp/ir/IRM_Shell/ssl2017/NewsRead.aspx?storyid=13492555&ishtml=1

That $0.47 = 37.16p.

Now, three months on, on March 10th 2017, Shell announced the quarterly dividend of US$0.47 per A ordinary share (“A Share”) and B ordinary share (“B Share”).

https://irssl.euroinvestor.com/asp/ir/IRM_Shell/ssl2017/NewsRead.aspx?storyid=13551375&ishtml=1

That $0.47 = 38.64p

Are you can see the Dividend of $0.47 remains the same quarter on quarter, but due the devaluation of £Sterling, the UK£ payment has increased by 1.48p per share.

BREXIT.