Just yesterday morning we talked about BP prices dropping only to find that BP closed up 3.12%. It is a slight increase, and may not mean anything, but it is something to keep a weekly eye on.
BP is making news in other financial areas as well now that some Senators are pushing BP to suspend all dividend payments until the costs associated with the oil leak are calculated. Knowing that the leak may not be fully stopped until August means it could be some time before dividend payments could resume.
Last year, the dividend was 56 cents per share. According to the 2009 BP Annual Report, this amounted to a total payout of $10.5 billion.
In their letter to the head of BP, Senators Charles Schumer, D-NY, and Ron Wyden, D-Ore, wrote, "We are concerned that such action to move money off of the company's books and into investors pockets will make it much more difficult to repay the U.S. government and American communities that are working around the clock to stem the damage caused by this devastating oil spill."
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BP is making news in other financial areas as well now that some Senators are pushing BP to suspend all dividend payments until the costs associated with the oil leak are calculated. Knowing that the leak may not be fully stopped until August means it could be some time before dividend payments could resume.
Last year, the dividend was 56 cents per share. According to the 2009 BP Annual Report, this amounted to a total payout of $10.5 billion.
In their letter to the head of BP, Senators Charles Schumer, D-NY, and Ron Wyden, D-Ore, wrote, "We are concerned that such action to move money off of the company's books and into investors pockets will make it much more difficult to repay the U.S. government and American communities that are working around the clock to stem the damage caused by this devastating oil spill."
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Just as I predicted. I think day to day this stock, and others in the energy sector, will fluctuate. It will be important to look at it from at least a weekly perspective. I suppose that is what makes your weekly report so valuable!
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