Return on investment: BP increases its dividend by 10%. : Orishas-finance

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Return on investment: BP increases its dividend by 10%.

05/08/2022

Categories: Companies

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Return on investment: BP increases its dividend by 10%.

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The British oil firm BP has benefited greatly from the rise in oil prices by increasing its refining margins. To this end, it has increased its dividend by 10%.

BP increased its dividend by 10% to 6.006 cents per share, exceeding its previous forecast of a 4% annual increase. The oil firm reported its highest profit in 14 years in the second quarter of this year. The company reported second-quarter earnings of $8.45 billion.

The company also increased its share buyback program to $3.5 billion for the third quarter, up from $2.5 billion in the previous three months, in line with its policy of using 60% of cash flow to buy back its own shares.

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