BP p.l.c. (NYSE:BP) Raises Dividend to $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) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders 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 dividend yield of 5.8%. The ex-dividend date 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 Trading Up 0.8%

NYSE:BP traded up $0.29 during trading hours on Wednesday, reaching $33.89. The company's stock had a trading volume of 11,065,244 shares, compared to its average volume of 11,383,127. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 1.22. The firm has a market capitalization of $89.87 billion, a price-to-earnings ratio of -73.66, a PEG ratio of 1.90 and a beta of 0.57. The firm has a 50-day simple moving average of $31.08 and a 200-day simple moving average of $31.07. BP has a 1 year low of $25.22 and a 1 year high of $35.54.

BP (NYSE:BP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.22. BP had a positive return on equity of 9.51% and a negative net margin of 0.62%. The business had revenue of $46.63 billion during the quarter, compared to analyst estimates of $42.88 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. BP's revenue was down 1.4% on a year-over-year basis. Research analysts expect that BP will post 3.53 EPS for the current fiscal year.

About BP

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.