BP fixes fourth quarter dividend to 8 cents a share
BP said the dividend for the fourth quarter 2011 will be 8 cents a share.
The company has earlier revealed in the beginning of this month that it will raise its quarterly dividend by 14% after posting a profit of $7.69bn, up 38% from the $5.57bn posted a year earlier.
This interim dividend is to be paid on 30 March 2012 to shareholders on the share register on 17 February 2012.
BP will offer a scrip dividend alternative for this dividend which will allow shareholders to elect to receive their dividend in the form of new ordinary shares and ADS holders in the form of new ADSs.
The reference share price for the issue of new ordinary shares under the scrip dividend alternative is $ 7.746 for each new ordinary share, while that for the issue of new ADSs under the scrip dividend alternative is $47.223 for each new ADS.
For holders of ordinary shares this is equivalent to 1 new share for about every 96.825 shares held prior to the ex-dividend date of 15 February 2012.
For holders of ADSs this is equivalent to 1 new ADS for every 98.381 ADSs held prior to the ex-dividend date of 15 February 2012.
The sterling cash dividend will be announced to the London Stock Exchange on 19 March 2012.
The deadline for receipt of elections to participate in the Scrip Dividend Programme for this interim dividend is 12 March 2012.
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