BP reports Q2 profit of $8.45 billion, boosts dividend

Published by
Reuters

By Ron Bousso and Shadia Nasralla LONDON (Reuters) – BP on Tuesday reported a second quarter profit of $8.45 billion, its highest in 14 years, as strong refining margins and oil trading helped it boost its dividend and share repurchases. BP increased its dividend by 10% to 6.006 cents per share, more than its previous guidance of a 4% annual increase. It raised its share buyback programme to $3.5 billion for the third quarter from $2.5 billion in the previous three months, in line with its policy of using 60% of cashflow for the repurchase of its own shares. “BP continues to build a track reco…

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