BP could not pay dividend
Uncategorized, economic, economy, publications, technology June 10th, 2010"We are resigned to the fact that there may be a suspension of the dividend," said Tony Shepard, an analyst at Charles Stanley, quoted by Reuters. After many setbacks experienced by BP for almost two months and the explosion of the drilling platform, the oil group could suspend payment of its dividend this year. Anticipating that caused a fall of 4.24% to 391.55 pence on BP's share price at the close of the London Stock Exchange, while the British FTSE gained 1.15%.
On Friday, BP has reaffirmed its intention to announce to its shareholders on July 27 the amount of its interim dividend by way of the second quarter.Dividends paid by the group representing some 10.5 billion dollars (8.7 billion euros) per year.
Yet another bad news for the oil group that is not due to his inability to pay, but the fact that the U.S. authorities there are not favorable. "It does me no problem that BP complies with its legal obligations (to its shareholders, Ed), but I want them to know they have a moral and legal obligations here in the Gulf, warned Tuesday Barack Obama.
The U.S. authorities have also sent an ultimatum to compel them to BP by unveiling its plans to 72 hours to stop the leak.
"BP must state its plans for its parallel initiatives ongoing and alternative oil recovery, including establishing a timetable within 72 hours after receipt of this letter," says the letter from the admiral-cons Coastguard James Watson chief operating officer of BP, Doug Suttles, and dated Tuesday.
With the installation of a funnel, BP has accelerated since last week the recovery of oil leaking from the wells to 1,500 meters below the surface of the water for more than seven weeks. But the water continues to move towards the U.S. coast and crude oil continues to flow.
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