BP p.l.c. (NYSE:BP) Declares Dividend Increase - $0.49 Per Share

Key Points

• BP p.l.c. has raised its quarterly dividend to $0.49 per share, reflecting a 3.0% increase from the previous dividend of $0.48.
• The company reported $0.90 earnings per share for the last quarter, exceeding analysts' expectations of $0.68, with a revenue of $46.63 billion.
• BP has a payout ratio of 65.1%, indicating the dividend is well-supported by earnings, with future expectations pointing to a lower payout ratio of 46.8%.

BP p.l.c. (NYSE:BP - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Investors of record on Friday, August 15th will be paid a dividend of 0.4942 per share by the oil and gas exploration company on Friday, September 19th. This represents a c) dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, August 15th. This is a 3.0% increase from BP's previous quarterly dividend of $0.48.

BP has a payout ratio of 65.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BP to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 46.8%.

BP Stock Down 0.1%

NYSE BP traded down $0.03 during trading on Friday, reaching $34.16. 6,304,046 shares of the company's stock were exchanged, compared to its average volume of 8,057,893. BP has a fifty-two week low of $25.22 and a fifty-two week high of $35.54. The firm has a market capitalization of $90.60 billion, a PE ratio of 162.67, a P/E/G ratio of 1.83 and a beta of 0.57. The company has a current ratio of 1.21, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The company's fifty day simple moving average is $31.38 and its 200-day simple moving average is $31.12.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas exploration company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.22. BP had a return on equity of 9.08% and a net margin of 0.29%. The firm had revenue of $46.63 billion during the quarter, compared to analyst estimates of $42.88 billion. During the same period last year, the company posted $1.00 EPS. The business's quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that BP will post 3.53 EPS for the current year.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.