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article imageBP raises dividend by 14%

By James Hutchinson     Feb 7, 2012 in Business
BP raises cash dividend by 14%. This is the first increase since it was reinstated last year, following the suspension after the Gulf of Mexico oil spill.
On February 7, 2012, BP LLC announced an increase in the dividend paid on common shares for the fourth quarter, along with the release of earnings information. The increase is from seven to eight cents per share, a 14% increase.
The company press release did not give an ex-dividend date or a date the dividend would be paid. Last year, the ex-dividend date was February 9, 2011, or shortly after the earnings release.
A Different Dividend Amount for US Shareholders
For BP shareholders in the United States, shares on the NYSE had already paid a dividend of 42 cents a share. BP Press Officer Robert Wise confirmed that “US investors hold 6 shares per ADS (American Depository Stock):. So, yes they’ll get the same c.14% increase from 42 to 48 cents/ADS."
This is the first increase in the dividend since it was reinstated in February 2011. The dividends had been suspended in August and November 2011 due to concerns about the ability to fund claims related to the oil spill in the Gulf of Mexico in 2010.
In the press release, the company reiterated its commitment to restoration of natural resources in the Gulf. A total of $15 billion has been committed to the Trust fund for this purpose.
More about Stocks, quarterly dividend, Oil company, BP