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BP ups dividend after setback year


Published Feb 5, 2008
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U.K.-based oil company BP has suffered a setback in full-year 2007 and fourth-quarter earnings, with the company citing a near-doubling of taxes to 45 percent, U.S. sales lag and restructuring expenses.

Company replacement cost profit in the fourth quarter fell by a $1 billion year-on-year to $2.97 billion. A 22-percent fall to $17.3 billion was recorded for the year.

BP capital spending was $6.6 billion in the quarter, and in the year had to reckon with the $1.1 billion purchase of Chevron’s Netherlands manufacturing company.

On the plus side, company leadership will issue a 13.525-cents-per-share divident, up about three cents in the year-ago span.

Tags: BP North America



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