Oct 29, 2019
BP: incoming
The oil company pays out around half its net income and its dividend yield is more than 6 per cent. In particular, its oil and gas producing units made less money, partly due to lower received prices. His new boss Bernard Looney, taking over next year for the retiring Bob Dudley, will want as much financial flexibility as he can get. In the US, the new frontier for oil production is far south in the shale oil regions of the lower 48 states. Almost all of the total share return for the largest oil producers derives from dividends.
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