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  • wareham2620 wareham2620 Sep 10, 2010 12:24 PM Flag

    Any guesses on when the div is restarted

    GRAND ISLE, Louisiana | Sat Jun 5, 2010 12:43am BST

    GRAND ISLE, Louisiana (Reuters) - U.S. President Barack Obama warned energy giant BP on Friday not to "nickel and dime" Gulf coast residents over oil spill damage claims while paying out billions of dollars in dividends to shareholders.

    "My understanding is that BP has contracted for $50 million (34.5 million pound) worth of TV advertising to manage their image during the course of this disaster," Obama said. "In addition, there are reports that BP will be paying $10.5 billion -- that's billion with a "B" -- in dividend payments this quarter."

    BP on Friday resisted pressure from some U.S. lawmakers to stop dividend payouts until the full cost of cleaning up the spill is known.

    The company is due to announce its second-quarter dividend and results on July 27. The $10.5 billion figure quoted by Obama covers dividend payments for the whole year and not just for this quarter as he said.......

    http://uk.reuters.com/article/idUKTRE65360E20100604

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    • My understanding is that BP has contracted for $50 million (34.5 million pound) wor

      th of TV advertising to manage their image during the course of this disaster," Obama said. "In addition, there are reports that BP will be paying $10.5 billion -- that's billion with a "B" -- in dividend payments this quarter."

      My problem is that the President and other were stating the entire years dividend not a quarter. Look at the number of shares times by .84 and then times by 4 to get the yearly distribution. What was said was completely false.
      When will the divy come back? I am hoping 2011, if not I will move on.

 
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