BP reports stronger results in Q2, boosts dividends and buybacks
Oil and gas giant BP said its dividends have increased by 4 percent, in which their share buybacks after second-quarter profit increased to US $2.8 billion, beating expectations.
BP said that it plans to repurchase US $1.4 billion of its own shares in the coming months. The company also expected to buy back US $1 billion per quarter.
“BP expects to be able to deliver buybacks of around US $1.0 billion per quarter and have capacity for an annual increase in the dividend per ordinary share of around 4 percent, through 2025,” said the company in the statement, based on an estimated average oil price of US $60 per barrel.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More oil news
Oil Rises as Possible Iran, Russia Sanctions Temper Glut Outlook
Asian Stocks Fall as China’s Confab Disappoints: Markets Wrap
China’s Weak Winter LNG Demand Provides Relief for Rival Buyers
Oil Edges Higher Ahead of US Inflation Figures and OPEC Report
Oil Slips as Glut Outlook Outweighs Optimism on China Stimulus
Oil Edges Higher as Traders Weigh Fallout From Syrian Upheaval
China’s Solar Industry Looks to OPEC for Guide to Survival
Five Key Charts to Watch in Global Commodity Markets This Week
Oil Steadies as OPEC+ Opts Again to Delay Plan to Restore Output
