BP hikes divi as profits jump
Oil titan BP has announced a 14% increase in its quarterly dividend, the first rise since the company resumed payouts a year ago, in the hope that it can put the 2010 Gulf of Mexico (GoM) oil spill behind it.
Oil titan BP has announced a 14% increase in its quarterly dividend, the first rise since the company resumed payouts a year ago, in the hope that it can put the 2010 Gulf of Mexico (GoM) oil spill behind it.
The company announced that replacement cost (RC) profit was $7,606m in the fourth quarter of 2011, taking the full-year figure to $23,900m, compared with a loss of $4,914m in 2010.
"2012 will be a year of increasing investment and milestones as we build on the foundations laid last year," said Chief Executive Bob Dudley.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"As we move through 2013 and 2014, we expect financial momentum will build as we complete payments into the Gulf of Mexico Trust Fund, restore high-value production and bring new projects on stream," he said.
BC
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Council tax bills in worst hit areas set to rise by £500 in the next four years
Branded the ‘ultimate stealth tax’, the council tax burden is increasing across the country, with some areas potentially having to find hundreds of pounds more a year to pay the bill
-
Crypto ETNs are approved for UK retail investors
The FCA has approved the sale of crypto ETNs to retail investors from October. What is a crypto ETN, and what does this mean for investors?