BP (BP)

[idpickering]

This for general chat here. Also posted on HYP Practical for HYPers chat.

Statement re future dividend decisions

https://www.investegate.co.uk/bp-plc--b ... 00035903R/

[monabri]

A firm statement that it is for the board to decide on the dividend.

[PinkDalek]

The four interim dividends for 2018 (also 2018-2019 for UK tax purposes) in sterling terms were:

Q1 - 7.4435 pence per share (10.00 cents) payable 22 June 2018
Q2 - 7.9296 pence per share (10.25 cents) payable 21 September 2018
Q3 - 8.0251 pence per share (10.25 cents) payable 21 December 2018
Q4 - 7.7382 pence per share (10.25 cents) payable 29 March 2019

Total 31.1364 pence]

The interims announced so far for 2019 are:

Q1 - 8.0655 pence per share (10.25 cents) payable 21 June 2019
Q2 - 8.3475 pence per share (10.25 cents) payable 20 September 2019
Q3 - 7.8250 pence per share (10.25 cents) payable 20 December 2019

Q3 Sterling rate here https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BP./14340404.html and, yes, I think we all know how sterling has strengthened recently.

[Dod101]

A firm statement that it is for the board to decide on the dividend.

I do not hold BP but I find this the strangest thread I have seen for a long time. I know that monabri is just paraphrasing the statement from BP (although with a slightly different nuance)

If the BP Directors are not to decide the level of the Interim Dividends who is?

Dod

[PinkDalek]

[If the BP Directors are not to decide the level of the Interim Dividends who is?

I don't know why you suggest the entire thread is the strangest you have seen for a long time but maybe the financial press thought it was their job to speculate back in October 2019.

If you compare Q3 October 2018 part 1 with Q3 October 2019 part 1 you'll note a change in wording (not only ditching the scrip dividends).

[Dod101]

If you compare Q3 October 2018 part 1 with Q3 October 2019 part 1 you'll note a change in wording (not only ditching the scrip dividends).

Where is Q3 October 2018 part 1 and Q£ October 2019 part 1, so that I can compare them? They do not seem to be on this thread. I do not in any case know what you are referring to.

Anyway, my point was simply that if the Directors of BP do not decide the interim dividends who does? I know that it is not worthwhile getting worked up about but it just seemed such a strange thing for BP and then fro monabri to comment on.

Dod

[monabri]

What I believe I was thinking when I made the comment (end of October) was a report on BP's discussion with various analysts - in particular - Credit Suisse who had been questioning them on the timing of any dividend increase. This lead to the rather short, curt announcement from BP (link in previous comments).

Here's an article from proactive investors which highlights the Credit Suisse comment.

https://www.proactiveinvestors.co.uk/co ... 05906.html

In terms of near future increases in dividends from BP it is not looking too promising.




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Stranger than the recent comments on Shell's Q3 dividend ?

viewtopic.php?p=269340#p269340

[PinkDalek]

If you compare Q3 October 2018 part 1 with Q3 October 2019 part 1 you'll note a change in wording (not only ditching the scrip dividends).

Where is Q3 October 2018 part 1 and Q£ October 2019 part 1, so that I can compare them? They do not seem to be on this thread. I do not in any case know what you are referring to.

See viewtopic.php?p=260725#p260725 for Q3 October 2019 part 1 but for ease https://www.investegate.co.uk/bp-plc--bp--/rns/3q19-part-1-of-1/201910290700033915R/

Q3 October 2018 part 1 was before this thread was commenced but may be found here https://www.investegate.co.uk/bp-plc/rns/3q18-part-1-of-1/201810300700065929F/

Using Ctrl+F and the word "Dividend" will find the different narratives, especially if you can place the two RNSs side by side. If not, let me know and I'll try and compare tomorrow if I find the time.

Anyway, my point was simply that if the Directors of BP do not decide the interim dividends who does? I know that it is not worthwhile getting worked up about but it just seemed such a strange thing for BP and then fro monabri*** to comment on.

That point was understood. I doubt there are many here who don't understand the mechanics re interims as against finals. I merely felt you were dissing the entire thread with your mention of "strangest". Perhaps you didn't mean what you said when you wrote I find this the strangest thread I have seen for a long time or hadn't bothered to read page 1.

***monabri has replied before this from me. I understood what he wrote at the time.

[Dod101]

Correct PD. I am not dissing the thread and should maybe go back to sleep! Thanks anyway for your patience. I will read up on the items you have highlighted.

Dod

[idpickering]

BP CFO Brian Gilvary to retire

The board of BP p.l.c. today announced that Brian Gilvary, BP chief financial officer (CFO), has decided to retire from the company and step down from the BP board on 30 June 2020. Gilvary has had a 34-year career with BP, including over eight years as CFO.

He will be succeeded by Murray Auchincloss, currently CFO of BP's Upstream segment, who will take up the role of BP CFO and join the board on 1 July 2020. Gilvary and Auchincloss will work together between now and the end of June to ensure an orderly transition

https://www.investegate.co.uk/bp-plc--b ... 00144281A/

[idpickering]

I'm topping up my BP. holdings on this Wednesday, so this from TMF is quite timely. My top up will still happen nonetheless.

Should you buy shares in oil giant BP for its 6% yield? This is what I’d do

With the BP (LSE: BP) share price at 485p, the forward-looking dividend yield is about 6.4% for 2020. Such a juicy payment must be worth considering for a portfolio focused on income, right?

But for me, there’s a problem. My ideal dividend investment will sport a shareholder payment that rises a little each year. And behind that, there will be a generally rising record of revenue, earnings and cash flow.

I don’t want dividend payments to stall or be interrupted because of weaknesses in the basic financial performance of an underlying business. And truth be told, I hanker after modest capital growth from a gradually rising share price too.

https://www.fool.co.uk/investing/2020/0 ... hat-id-do/

[idpickering]

4th Quarter Results;

https://www.bp.com/content/dam/bp/busin ... esults.pdf

Also on HYP Practical.

[idpickering]

BP net zero 2050 ambition, organisation changes

BP today set a new ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero. The ambition is supported by ten aims:

Five aims to get BP to net zero:

1. Net zero across BP's operations on an absolute basis by 2050 or sooner.

2. Net zero on carbon in BP's oil and gas production on an absolute basis by 2050 or sooner.

3. 50% cut in the carbon intensity of products BP sells by 2050 or sooner.

4. Install methane measurement at all BP's major oil and gas processing sites by 2023 and reduce methane intensity of operations by 50%.

5. Increase the proportion of investment into non-oil and gas businesses over time.

https://www.investegate.co.uk/bp-plc--b ... 00017728C/

[idpickering]

Q4 2019 Payment of dividends in sterling

8.1558 pence per share.

See; https://www.investegate.co.uk/bp-plc--b ... 20072556G/

Also on HYP Practical, for HYPer chat.

[PinkDalek]

Updating this for the record.

The four interim dividends for 2018 (also 2018-2019 for UK tax purposes) in sterling terms were:

Q1 - 7.4435 pence per share (10.00 cents) payable 22 June 2018
Q2 - 7.9296 pence per share (10.25 cents) payable 21 September 2018
Q3 - 8.0251 pence per share (10.25 cents) payable 21 December 2018
Q4 - 7.7382 pence per share (10.25 cents) payable 29 March 2019

Total 31.1364 pence (40.75 cents)

The four interim dividends for 2019 (also 2019-2020 for UK tax purposes) in sterling terms are:

Q1 - 8.0655 pence per share (10.25 cents) payable 21 June 2019
Q2 - 8.3475 pence per share (10.25 cents) payable 20 September 2019
Q3 - 7.8250 pence per share (10.25 cents) payable 20 December 2019
Q4 - 8.1588 pence per share (10.50 cents) payable 27 March 2020

Total 32.3968 pence (41.25 cents)

To be continued but I doubt 2020 will look good (an understatement).

[idpickering]

BP confirms commitment to completing Alaska sale

BP today confirmed its commitment to completing the sale of its Alaska business to Hilcorp, first announced in August 2019. Subject to regulatory approvals, the parties expect to complete the transaction in June 2020.

https://www.investegate.co.uk/bp-plc--b ... 39409304K/

[idpickering]

BP. 1st quarter results.

Here; https://www.bp.com/en/global/corporate/ ... sults.html

Also on HYP Practical.

[PinkDalek]

Updating this for the record.

The four interim dividends for 2018 (also 2018-2019 for UK tax purposes) in sterling terms were:

Q1 - 7.4435 pence per share (10.00 cents) payable 22 June 2018
Q2 - 7.9296 pence per share (10.25 cents) payable 21 September 2018
Q3 - 8.0251 pence per share (10.25 cents) payable 21 December 2018
Q4 - 7.7382 pence per share (10.25 cents) payable 29 March 2019

Total 31.1364 pence (40.75 cents)

The four interim dividends for 2019 (also 2019-2020 for UK tax purposes) in sterling terms were:

Q1 - 8.0655 pence per share (10.25 cents) payable 21 June 2019
Q2 - 8.3475 pence per share (10.25 cents) payable 20 September 2019
Q3 - 7.8250 pence per share (10.25 cents) payable 20 December 2019
Q4 - 8.1588 pence per share (10.50 cents) payable 27 March 2020

Total 32.3968 pence (41.25 cents)

The interim(s) announced so far for 2020 are:

Q1 - 8.3421 pence per share (10.50 cents) payable 19 June 2020
https://www.investegate.co.uk/bp-plc/rn ... 50092547P/

[dealtn]

Reports of e-mail to staff at BP announcing 10,000 job cuts.

[PinkDalek]

Reports of e-mail to staff at BP announcing 10,000 job cuts.

https://finance.yahoo.com/news/bp-cut-10-000-jobs-120734738.html

LONDON (AP) — Energy producer BP announced Monday that it will slash its global workforce by 10,000 jobs as the COVID-19 pandemic slams the oil and gas industry.
Chief Executive Bernard Looney said that the cuts will affect office-based roles in BP's global workforce of 70,000 people and come mostly this year. ...