BP Increases Dividend

BP's dividend increase and commitment to more share buybacks send a strong signal to the market

Stephen Simko, CFA 30 October, 2013 | 10:52AM
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BP's (BP.) shares surged 5% today as the company raised its quarterly dividend by 6% to 9.5 cents per ordinary share and also committed to $10 billion in further share repurchases beyond the buyback plan already announced. Our outlook for  BP remains unchanged. Cash flows will be growing in the coming years; its balance sheet is in great shape, and returni

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BP PLC313.65 GBX1.70Rating

About Author

Stephen Simko, CFA  is a senior stock analyst at Morningstar.

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