BP: raises dividend after 'strong' second quarter
(CercleFinance.com) - BP has raised its quarterly dividend for the first time in almost four years and has committed itself to increasing payouts to shareholders in the future, as the British oil company delivered another quarter of "strong" operational performance.
On Tuesday the group reported a second-quarter underlying replacement cost profit of 2.8 billion dollars, up from 684 million dollars in the same period of 2017.This rise reflected higher oil prices, as well as favourable foreign exchange factors, it said.
Excluding post-tax amounts related to the Gulf of Mexico oil spillage, operating cash flow for the second quarter was seven billion dollars.
Organic capital expenditure for the second quarter was seven billion dollars, compared with 4.3 billion dollars for the same periods in 2017.
BP, the world's sixth largest oil company by market capitalisation, will raise its quarterly dividend by 2.5% to 10.25 cents per share, representing the first rise since the third quarter of 2014.
BP's shares are currently up 1.3% at 572.8 pence after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
On Tuesday the group reported a second-quarter underlying replacement cost profit of 2.8 billion dollars, up from 684 million dollars in the same period of 2017.This rise reflected higher oil prices, as well as favourable foreign exchange factors, it said.
Excluding post-tax amounts related to the Gulf of Mexico oil spillage, operating cash flow for the second quarter was seven billion dollars.
Organic capital expenditure for the second quarter was seven billion dollars, compared with 4.3 billion dollars for the same periods in 2017.
BP, the world's sixth largest oil company by market capitalisation, will raise its quarterly dividend by 2.5% to 10.25 cents per share, representing the first rise since the third quarter of 2014.
BP's shares are currently up 1.3% at 572.8 pence after these announcements.
Copyright (c) 2018 CercleFinance.com. All rights reserved.