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    BP.   GB0007980591

BP PLC

(BP.)
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BP Raises Dividend, Launches $1.4 Billion Share Buyback

08/03/2021 | 12:34am EDT

By Jaime Llinares Taboada

BP PLC on Tuesday said it increased the dividend for the second quarter and launched a $1.4 billion share buyback.

The British oil-and-gas major declared a quarterly dividend of 5.46 cents a share, up from 5.25 cents in the first quarter. Increased distributions are based on the underlying performance of the business, an improving outlook for the environment and confidence in its balance sheet, it said.

In addition, BP reported a net profit of $3.12 billion for the three months to June, down from $4.67 billion in the first quarter.

However, the underlying profit on a replacement cost basis increased to $2.80 billion from $2.63 billion in the first quarter, and was well above the market consensus of $2.15 billion that was compiled by the company and averaged from 24 brokers.

For the third quarter, the London-based energy company said it expects higher upstream production than in April-June, higher product demand across its customer business, and slightly improved refining margins.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

Corrections & Amplifications

This story was corrected at 0647 GMT. The original, in the third paragraph incorrectly said the net profit for the first quarter was $4.67 million rather than $4.67 billion.

(END) Dow Jones Newswires

08-03-21 0234ET

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -0.95% 313.7495 Delayed Quote.24.31%
WTI 0.38% 72.206 Delayed Quote.46.78%
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Analyst Recommendations on BP PLC
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Financials (USD)
Sales 2021 183 B - -
Net income 2021 13 044 M - -
Net Debt 2021 38 951 M - -
P/E ratio 2021 6,93x
Yield 2021 5,01%
Capitalization 86 385 M 86 664 M -
EV / Sales 2021 0,68x
EV / Sales 2022 0,65x
Nbr of Employees 63 600
Free-Float 93,9%
Chart BP PLC
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BP plc Technical Analysis Chart | BP. | GB0007980591 | MarketScreener
Technical analysis trends BP PLC
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 4,31 $
Average target price 5,09 $
Spread / Average Target 18,1%
EPS Revisions
Managers and Directors
Bernard Looney Chief Executive Officer & Director
Murray Auchincloss Chief Financial Officer & Director
Helge Lund Chairman
Gordon Young Birrell Executive Vice President-Production & Operations
Paula Rosput Reynolds Senior Independent Director
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