Friday, June 4, 2010

No Decision on BP (NYSE:BP) Dividend

Investors in BP (NYSE:BP) were disappointed in the conference call with BP Chief Executive Officer Tony Hayward and Chairman Carl-Henric Svanberg concerning dividend payouts, as they had hoped to have a decision made and clarity as to what they could expect in the next distribution.

Svanberg said concerning the dividend decision that it would be made close to the next earnings report date of July 27.

He added, "All factors will be considered and the decision taken in the long term interests of the shareholders."

Possibly in a nod to U.S. lawmakers who have pressured BP on the issue, saying they shouldn't pay out the dividend until the cost of the oil spill is better known, Svanberg said the priority of the company at this time is to focus on containing the oil spill and its ramifications.

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