Quick Answer: Is BP cutting its dividend?

BP has halved its shareholder dividend and posted a $6.7bn quarterly loss after the coronavirus pandemic hit global demand for oil. … The loss was largely due to BP writing down the value of its assets after it cut its oil price forecasts. BP said the outlook for oil prices and demand was “challenging and uncertain”.

Did BP stop paying dividends?

In keeping with BP’s strategy to promote efficient and modern methods of engagement with its shareholders, BP has made the decision that in 2020 it will stop paying cash dividends by check. … BP wants to provide the most efficient and secure way for shareholders to receive their dividend payments.

Is BP paying a dividend in 2020?

There are typically 4 dividends per year (excluding specials), and the dividend cover is approximately 1.3.

Dividend Summary.

Summary Previous dividend Next dividend
Status Paid Forecast
Type Quarterly Quarterly
Per share 4.105p (5.46c) Sign Up Required
Declaration date 22 Dec 2020 (Tue) 27 Jan 2022 (Thu)

How much will BP cut its dividend?

The newly announced dividend represents a 50% reduction compared to the 10.50 cents per share in the first quarter of 2020 and comes as the U.K.-based firm looks to ramp up its investment in renewables whilst cutting hydrocarbon generation by 40% through to 2030.

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When did BP cut its dividend?


BP last reduced its dividend in 2010, when it was suspended for three quarters following the deadly Deepwater Horizon rig explosion. It holds $40.9 billion in net debt after raising $19 billion in new debt in the second quarter, more than any of its peers.

Is BP a good stock to buy 2021?

BP plc BP has witnessed upward earnings estimate revisions for 2021 and 2022 in the past 30 days. The stock, sporting a Zacks Rank #1 (Strong Buy), is likely to see earnings growth of 293.5% this year.

Did BP increase dividend?

BP increased its dividend to 5.46 cents after it was halved to 5.25 cents in July 2020 for the first time in a decade. … The results were also buoyed by stronger demand for fuel, including aviation fuel, and higher profit margins at convenience stores in BP’s petrol stations, it said.

How much is bp dividend per share UK?

BP Plc (BP.) Ordinary US$0.25

Type Amount Ex-dividend date
Q4 10.50¢ 13/02/2020
Q3 10.25¢ 07/11/2019
Q2 10.25¢ 08/08/2019
Q1 10.25¢ 09/05/2019

Why is BP buying back shares?

BP said it would buy back an additional $1.25 billion (€1.1 billion) of shares, using the proceeds of surging energy prices to woo investors who have become disenchanted with oil and gas. … After years of poor returns, the industry is funnelling most of this extra cash into repurchasing shares and paying dividends.

Is BP dividend sustainable?

Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. BP paid a dividend last year despite being unprofitable. This might be a one-off event, but it’s not a sustainable state of affairs in the long run.

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