BP Keeps Buyback Steady, Raises Dividend as Profit Stabilizes

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BP Keeps Buyback Steady, Raises Dividend as Profit Stabilizes

Bloomberg07-30

BP Plc maintained the pace of its share buybacks and increased its dividend as it posted a stable profit for the second quarter.The British oil major reiterated that it will purchase $3.5 billion of ...

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Last week, France’s TotalEnergies SE reported a drop in profit that exceeded analysts’ expectations on the back of weaker fuel-processing margins.In an effort to underpin the future of its profitable upstream division, BP gave the go-ahead to the Kaskida project in the US Gulf of Mexico, which should start in 2029.“We are driving focus across the business and reducing costs, all while building momentum,” Chief Executive Officer Murray Auchincloss said in a statement on Tuesday. “This all supports growing returns for shareholders, as we have announced today.”BP’s adjusted net income for the second quarter was $2.76 billion, beating the average analyst estimate of $2.69 billion.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}