Shell angers climate activists with plan for $23bn shareholder payout

Company prepares to cut jobs from low-carbon division and focus on high-profit oil projects

• Business live: rolling coverage through the day

Shell has angered climate campaigners with plans to pay shareholders at least $23bn in rewards this year, despite falling profits, as it prepares to cut hundreds of jobs from the oil company's low-carbon division.

Shell's chief executive officer, Wael Sawan, told investors to expect payouts well in excess" of expectations, just days after setting out plans to cut up to 25% of the staff working in Shell's low-carbon solutions team.