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.
I think the reason BP is delaying the release of their third quarter financial report is so they can cook the books sufficiently to justify restarting their dividend payout starting in 1Q2011. At least that's what I hope they are doing.