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BP plc Message Board

  • balky20022002 balky20022002 Jun 16, 2010 4:06 PM Flag

    Wasn't this quarters dividend already earned and promised to shareholders?

    How can they rightfully decide to pull the recent dividend since it was already slated to be paid?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Rumor is they are going to send you a bill and claw back last years dividend too ! Watch your mail !

    • Yes they stabbed loyal shareholders in the back and threw away 20B for nothing. That is why they need to be destroyed.

    • 1st Quarter BP Dividend cut not legal



      Wednesday June 17th





      06/17/2010: In regards to the BP dividend cut. I agree BP should cut future dividends to ensure liquidity for dealing with costs relating to the gulf spill. I venomently disagree, however, with the canceling of the 1st quarter dividend scheduled for payment June 21st, 2010. This dividend has already been declared. I submit that the declaration of dividend and subsequent announcement of payment date constitutes a legally binding contract between BP and the shareholders. It is my contention that at the time of dividend declaration the funds are set-aside in a liability account and the funds are then actually owned by the shareholders, not the company. At the time of payment of this legal liability is removed from the company’s books.



      If this skullduggery is allowed to set a legal president, the stock market is surely broken. The market value of stocks with dividends is affected by the cycle of dividends. If an announcement of dividend and subsequent determination of shareholders of record and the setting of payment date are not legally binding, then we are to assume business in this country is conducted on a good faith wink and a nod and not rule of law. I submit that the flamboyant announcements made by our president and the CEO of BP yesterday, amounted to throwing stockholders under the bus. I contend the dividend scheduled for payment June 21st is not BP’s to give with or without the theatrical appearance of coercion by the U.S. government. It is my opinion that this entire charade was intended to take the spill clean up funds handily out of “small people’s” pockets, not BP’s. Is it coincidence that this “meeting” was scheduled 2 1/2 business days before payment of dividend was to be made. I would be interested in hearing from others on the legal issues proposed here. I am not a lawyer and only have referenced the many legal blogs available on the web. If I am wrong, there are a whole lot of websites which need to change their legal definitions. The consensus of these references (including some legal dictionaries), will all, without exception, need to change their views, because they support my argument 100%. The meeting Wednesday June 16th was all about illegally confiscating the June 21st scheduled dividend payment.



      Ken Hyde



      Ref: Wikivest:



      Declaration date
      The declaration date is the day the Board of Directors announces its intention to pay a dividend. On this day, a liability is created and the company records that liability on its books; it now owes the money to the stockholders. On the declaration date, the Board will also announce a date of record and a payment date.





      Ref: Reference.com:



      Declaration date
      The declaration date is the day the Board of Directors announces its intention to pay a dividend. On this day, a liability is created and the company records that liability on its books; it now owes the money to the stockholders. On the declaration date, the Board will also announce a date of record and a payment date

      Ref: eHow



      Significance of the Declared Date of Dividends
      · Though U.S. companies almost always seek to maintain or increase the amount of dividends, there is no obligation to maintain or increase the dividends. It is only after declaring the payment of the dividend that the company is committed to making the dividend payment to common shareholders.

    • relax..... go clean some turtles

    • 1st Quarter BP Dividend cut not legal

      Wednesday June 17th


      06/17/2010: In regards to the BP dividend cut. I agree BP should cut future dividends to ensure liquidity for dealing with costs relating to the gulf spill. I venomently disagree, however, with the canceling of the 1st quarter dividend scheduled for payment June 21st, 2010. This dividend has already been declared. I submit that the declaration of dividend and subsequent announcement of payment date constitutes a legally binding contract between BP and the shareholders. It is my contention that at the time of dividend declaration the funds are set-aside in a liability account and the funds are then actually owned by the shareholders, not the company. At the time of payment of this legal liability is removed from the company’s books.

      If this skullduggery is allowed to set a legal president, the stock market is surely broken. The market value of stocks with dividends is affected by the cycle of dividends. If an announcement of dividend and subsequent determination of shareholders of record and the setting of payment date are not legally binding, then we are to assume business in this country is conducted on a good faith wink and a nod and not rule of law. I submit that the flamboyant announcements made by our president and the CEO of BP yesterday, amounted to throwing stockholders under the bus. I contend the dividend scheduled for payment June 21st is not BP’s to give with or without the theatrical appearance of coercion by the U.S. government. It is my opinion that this entire charade was intended to take the spill clean up funds handily out of “small people’s” pockets, not BP’s. Is it coincidence that this “meeting” was scheduled 2 1/2 business days before payment of dividend was to be made. I would be interested in hearing from others on the legal issues proposed here. I am not a lawyer and only have referenced the many legal blogs available on the web. If I am wrong, there are a whole lot of websites which need to change their legal definitions. The consensus of these references (including some legal dictionaries), will all, without exception, need to change their views, because they support my argument 100%. The meeting Wednesday June 16th was all about illegally confiscating the June 21st scheduled dividend payment.

      Ken Hyde

      Ref: Wikivest:

      Declaration date
      The declaration date is the day the Board of Directors announces its intention to pay a dividend. On this day, a liability is created and the company records that liability on its books; it now owes the money to the stockholders. On the declaration date, the Board will also announce a date of record and a payment date.


      Ref: Reference.com:

      Declaration date
      The declaration date is the day the Board of Directors announces its intention to pay a dividend. On this day, a liability is created and the company records that liability on its books; it now owes the money to the stockholders. On the declaration date, the Board will also announce a date of record and a payment date
      Ref: eHow

      Significance of the Declared Date of Dividends
      · Though U.S. companies almost always seek to maintain or increase the amount of dividends, there is no obligation to maintain or increase the dividends. It is only after declaring the payment of the dividend that the company is committed to making the dividend payment to common shareholders.

    • 1st Quarter BP Dividend cut not legal

      Wednesday June 17th


      06/17/2010: In regards to the BP dividend cut. I agree BP should cut future dividends to ensure liquidity for dealing with costs relating to the gulf spill. I venomently disagree, however, with the canceling of the 1st quarter dividend scheduled for payment June 21st, 2010. This dividend has already been declared. I submit that the declaration of dividend and subsequent announcement of payment date constitutes a legally binding contract between BP and the shareholders. It is my contention that at the time of dividend declaration the funds are set-aside in a liability account and the funds are then actually owned by the shareholders, not the company. At the time of payment of this legal liability is removed from the company’s books.

      If this skullduggery is allowed to set a legal president, the stock market is surely broken. The market value of stocks with dividends is affected by the cycle of dividends. If an announcement of dividend and subsequent determination of shareholders of record and the setting of payment date are not legally binding, then we are to assume business in this country is conducted on a good faith wink and a nod and not rule of law. I submit that the flamboyant announcements made by our president and the CEO of BP yesterday, amounted to throwing stockholders under the bus. I contend the dividend scheduled for payment June 21st is not BP’s to give with or without the theatrical appearance of coercion by the U.S. government. It is my opinion that this entire charade was intended to take the spill clean up funds handily out of “small people’s” pockets, not BP’s. Is it coincidence that this “meeting” was scheduled 2 1/2 business days before payment of dividend was to be made. I would be interested in hearing from others on the legal issues proposed here. I am not a lawyer and only have referenced the many legal blogs available on the web. If I am wrong, there are a whole lot of websites which need to change their legal definitions. The consensus of these references (including some legal dictionaries), will all, without exception, need to change their views, because they support my argument 100%. The meeting Wednesday June 16th was all about illegally confiscating the June 21st scheduled dividend payment.

      Ken Hyde

      Ref: Wikivest:

      Declaration date
      The declaration date is the day the Board of Directors announces its intention to pay a dividend. On this day, a liability is created and the company records that liability on its books; it now owes the money to the stockholders. On the declaration date, the Board will also announce a date of record and a payment date.


      Ref: Reference.com:

      Declaration date
      The declaration date is the day the Board of Directors announces its intention to pay a dividend. On this day, a liability is created and the company records that liability on its books; it now owes the money to the stockholders. On the declaration date, the Board will also announce a date of record and a payment date

      Ref: eHow

      Significance of the Declared Date of Dividends
      · Though U.S. companies almost always seek to maintain or increase the amount of dividends, there is no obligation to maintain or increase the dividends. It is only after declaring the payment of the dividend that the company is committed to making the dividend payment to common shareholders.

    • bp just gave there shareholders a butt fk
      how dose it feel

      • 1 Reply to makingthedoe2day
      • So is it right to assume that BP was strong armed and that they would be sued by the federal government for more than the 2.1 billion they legally committed to the shareholders? Basically this is a decision to be sued by the shareholders rather than the government. And in the end they will probably still be sued by the government too unless some back door deal was reached.

    • I'm going to write off that lost dividend in my bp loss that I took. I earned it and they took it away from me.

    • I see the word "SUSPEND DIV" will that mean a delay of payment. That is they didn't cancel the dividend but delayed till next year. That could mean payment then without interest? Anyone agree with my thoughts? Not good no matter what they do.

    • Yes it was and they stated less than 2 weeks ago

      It would be paid.

      Future divis where the question.

      They screwed people like me way over

      • 1 Reply to kingkaras03
      • Like a double whammy. If you owned the stock which I did when it went ex dividend they took the 84 cents out of the price of the stock. Than they (i thought) put it away in some kind of escrow fund so they can keep making money on it until they finally give it to you. Now sold the stock after the disaster at a loss even with the dividend so it's like another slap in the face. Oh well at least I'm still here and those poor eleven guys are not. I am sorry for all of their families loss.

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