ENERGY

Shell to Pay $7.8 Million in Dividend Dispute: Shell Oil Co. has tentatively agreed to pay former shareholders $7.8 million to settle a dispute over a dividend paid just after it became a wholly owned subsidiary of the giant Royal Dutch-Shell Group, shareholder attorneys said. The dispute involved the timing of a dividend payment by Shell to Royal Dutch, which took place three days after the merger was completed. The shareholders alleged that Shell timed the merger to deprive them of the 50 cents per share dividend. More than 20,000 shareholders are plaintiffs in the case, said their attorney, Ken McNeil of Houston. Under terms of the proposed settlement, the former shareholders would receive payment of 25 cents per share plus 12.5% simple interest from June, 1985, to June, 1992. Also under the settlement, Shell does not admit any liability.