BP Declares Quarterly Dividend and Suspends Buyback
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy BP?
Source: seekingalpha
- Quarterly Dividend Announcement: BP declares a quarterly dividend of $0.4992 per ADS, maintaining a forward yield of 5.09%, which reflects the company's ongoing ability to generate stable cash flow despite market fluctuations.
- Buyback Suspension: The board has decided to suspend the share buyback program and fully allocate excess cash to strengthen the balance sheet, aiming to create a robust financial foundation for future investments, particularly in its distinctive oil and gas opportunities.
- Shareholder Record Date: The dividend is payable on March 27, with a record date of February 20 and an ex-dividend date also on February 20, ensuring shareholders receive timely returns, highlighting the company's commitment to shareholder value.
- Future Investment Strategy: BP emphasizes a disciplined approach to investing in its deep reservoir of oil and gas opportunities, indicating a strategic shift in response to the current economic environment, aimed at enhancing long-term profitability and market competitiveness.
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Analyst Views on BP
Wall Street analysts forecast BP stock price to rise
11 Analyst Rating
5 Buy
5 Hold
1 Sell
Moderate Buy
Current: 37.190
Low
6.38
Averages
84.26
High
503.69
Current: 37.190
Low
6.38
Averages
84.26
High
503.69
About BP
BP p.l.c. is a United Kingdom-based integrated energy company. The Company's segments include Gas & low carbon energy, Oil production & operations, Customers & products, and Other businesses & corporate. Its gas business includes regions with upstream activities that produce natural gas, integrated gas and power, and gas trading. Its low carbon business includes solar, offshore and onshore wind, hydrogen and carbon capture and storage and power trading. Oil production & operations segment comprises regions with upstream activities that predominantly produce crude oil, including bpx energy. Customers & products segment comprises its customer-focused businesses, which include convenience and retail fuels, electric vehicle charging, as well as Castrol, aviation and business to business and midstream. It also includes its products businesses, refining and oil trading, as well as its bioenergy businesses. Other businesses & corporate segment comprises technology and bp ventures.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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