By the way, don't let those stupid shorts or analyst or fund managers who only know sell low buy high to scare you from this excellent opportunity. This is a once in a life time opportunity like when TEXACO file bankrupcy or PG&E on the brink of bankrupcy. Opportunity don't come that often!
When a company paid a dividend, the stock price drop by the same amounts. Therefore, when BP suspends dividends, their cash reserve increases by the same amount and thus their stock price will increase by the same amount, theoretically. Therefore, BP's stock price would be higher than if they have to pay dividend. Since they are going to suspend 3 quarters of dividend = $2.7 per share, BP's stock price should be $2.7 higher than if they pay dividend.