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."

*************************

For complete program details, please visit our main site - Protect My Retirement Funds. 

We are not financial advisers and do not provide financial advice. All information provided by Protect-My-Retirement-Funds.com is of a general nature only and should not be considered as financial advice or a recommendation. Always consult your professional financial provider before making any investment decisions.

BP Stock Prices Sinking

It should come as no surprise to even the most casual observer that the stock price of BP Oil (BP) is headed down. In just one day, BP's stock sank 15% in U.S. trading, down $6.40 to $36.55. Overall, BP stock is down 40% since the Deepwater Horizon rig sank on April 20th.

BP is not the only company whose stock has been negatively affected by the rig disaster. Transocean (RIG) has dropped 12% and Anadarko (APC) dropped 19%.

Oil is not the only major industry in the Gulf of Mexico. Tourism, fishing, and shipping also provide a significant portion of the economy for the states on the Gulf. It would be wise to consider how businesses in these industries will be affected as the months go on.

*************************

For complete program details, please visit our main site - Protect My Retirement Funds. 

We are not financial advisers and do not provide financial advice. All information provided by Protect-My-Retirement-Funds.com is of a general nature only and should not be considered as financial advice or a recommendation. Always consult your professional financial provider before making any investment decisions.