BP (NYSE:BP) Dividend Should Remain Where it's at

Even though the costs of cleaning up the oil spill could rise into billions, possibly as high as $6 billion, for BP (NYSE:BP), that shouldn't be problem for the oil giant, and those following the company say they'll probably keep the dividend where it's at.

When spread over a period of three or four years, $6 billion isn't that big of a deal for BP, and they could handle it fairly easily.

So far cleanup costs are estimated to be at about $760 million, but that will gradually recede as the cleanup goes on and the leak is finally stopped.

As far as payouts go, much of that is insured, and it's the insurance companies that will eat that cost, and not BP.

Of course you have the inevitable lawsuits, but they could go on for years, and some will be strategically settled at lesser costs, especially those which could harm the reputation of BP even further, and keep the accident and incident in the public mind.

Potential overall damage estimates are far and wide, with some saying they could range anywhere from $220 million to $60 billion, taking into consideration the best- and worst-case outlook.

Analysts think the company could take a hit up to $25 billion for their balance sheet before the dividend would be affected.