bp: higher dividend and better-than-expected profit
(CercleFinance.com) - bp shares are up over 2% in London today, after the energy company announced a 10% increase in its dividend to eight cents per ordinary share, as well as maintaining its share buybacks at $3.
5bn for H2.
The British group's Q2 underlying RC profit increased 6.5% y-o-y, to almost $2.76bn, thus exceeding the consensus by 8.5% according to Oddo BHF, which hailed "robust cash generation".
In terms of EBIT, slightly weaker-than-expected results from the upstream division were offset by the customer and product division, as well as by lower corporate costs, RBC says, which also highlights a reduction in net debt.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
5bn for H2.
The British group's Q2 underlying RC profit increased 6.5% y-o-y, to almost $2.76bn, thus exceeding the consensus by 8.5% according to Oddo BHF, which hailed "robust cash generation".
In terms of EBIT, slightly weaker-than-expected results from the upstream division were offset by the customer and product division, as well as by lower corporate costs, RBC says, which also highlights a reduction in net debt.
Copyright (c) 2024 CercleFinance.com. All rights reserved.