The Rising Influence of Rising Affluence

[DewDiligence]

Shell is now repurchasing class-A shares, thanks to the recent elimination of stock dividends (#msg-102369381):

http://finance.yahoo.com/news/royal-dutch-shell-plc-buyback-162800710.html

Shell will presumably continue to repurchase class-A shares as long as they trade at a discount to the class-B shares, which they undoubtedly will due to the 15% Dutch tax withholding on dividends from the class-A shares (but not the class-B shares).

Eventually, Shell hopes to consolidate the two classes of shares into one, but this will require the approval of the Dutch government.