BP raises divi to nine cents

Integrated oil giant BP reported a sharp quarter-on-quarter increase in underlying replacement cost profit in the third quarter, paving the way for an increase in the dividend.

Integrated oil giant BP reported a sharp quarter-on-quarter increase in underlying replacement cost profit in the third quarter, paving the way for an increase in the dividend.

Adjusted replacement cost profit in the third quarter was $5.17bn, up from $3.69bn in the preceding quarter but down from $5.46bn in the corresponding quarter of 2011.

The quarterly dividend has increased by one cent to nine cents.

More to follow ...

JH

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