This report investigates the relationship between dividend policy and firm performance, specifically focusing on Shell Plc. The study examines the impact of dividend policy on key financial variables such as Earnings Per Share (EPS), Price-to-Earnings Ratio (P/E), Dividend Payout Ratio (DPOR), Return on Assets (ROA), and Return on Equity (ROE). The research utilizes annual reports from Shell Plc and employs regression analysis to assess the correlation between these variables. The findings reveal an insignificant relationship between the independent variables (EPS, P/E, DPOR) and the dependent variables (ROA and ROE), leading to the rejection of the alternative hypotheses. Based on these results, the report recommends that Shell Plc develop a unique dividend policy structure, considering market value and the complexities of the current market environment. The study includes an overview of the company, key concepts, related theories like Agency Theory, Residual Theory, and Bird in Hand Theory, and a review of recent research on the topic.