BP Boosts Dividend as Q2 Earnings Top Estimates

BP NYSE BP raised its dividend by 10% and extended its buyback program as it booked better-than-expected earnings for the second quarter of the year. The UK-based supermajor reported on Tuesday $2.8 billion in underlying replacement cost profit – the metric closest to net profit – for April to June, up from $2.7 billion for the previous quarter. The earnings were also higher than the $2.59 billion for the second quarter of 2023, and ahead of the analyst consensus of $2.54 billion.

Earlier this month, BP warned that impairments, primarily related to the review of the Gelsenkirchen refinery in Germany, would impact the second-quarter results. Still, the earnings came in better than expected and BP’s shares in London rose by 2% following the results release. “Our decision to increase our dividend by 10%, and extend our buyback programme commitment to 4Q 2024, reflects the confidence we have in our performance and outlook for cash generation,” CFO Kate Thomson said.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Stephen Nolan in top five highest paid BBC presenters as earnings publishedThe list is ranked by salary band, starting with the highest
Источник: BelfastLive - 🏆 16. / 77 Прочитайте больше »

5 Highest Paying Oil & Gas Dividend Stocks for This SummerIncome investors hunting for a steady income stream should consider including high-yielding energy stocks in their portfolios considering that the sector remains the cheapest in the U.S. market
Источник: OilandEnergy - 🏆 34. / 68 Прочитайте больше »