Royal Dutch Shell PLC RDSB said Thursday that first-quarter "current cost of supply" earnings rose 69% on year, helped by higher prices.

The Anglo-Dutch oil company said that profit on a CCS basis, an important bottom-line figure used by Shell, rose to $5.70 billion in the three months ended March 31, from $3.38 billion

Cash flow from operating activities fell to $9.43 billion from $9.5 billion in the first quarter of 2017, Shell said.

Strong earnings were underpinned by higher oil-and-gas prices, as well as the continued growth of its integrated gas business, though they were partially offset by less-favorable conditions in the refining market and lower trading in its downstream business.

Shell is making good progress with its divestment program, and the company's free-cash-flow outlook is consistent with its aim to buy back at least $25 billion of shares from 2018 to 2020, Chief Executive Ben van Beurden said.

The board maintained the quarterly dividend at $0.47, the company said.