BP plc (NYSE:BP) Plans $0.62 Quarterly Dividend

BP plc (NYSE:BP) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.615 per share by the oil and gas exploration company on Friday, June 21st. This represents a $2.46 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, May 9th.

BP has increased its dividend payment by an average of 0.3% annually over the last three years. BP has a dividend payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect BP to earn $4.08 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 59.8%.

NYSE:BP traded down $0.24 on Thursday, reaching $41.03. The stock had a trading volume of 3,678,300 shares, compared to its average volume of 5,245,795. BP has a 1-year low of $36.28 and a 1-year high of $47.57. The firm has a market cap of $137.97 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.72 and a beta of 0.78. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. BP had a net margin of 3.26% and a return on equity of 12.19%. The business had revenue of $66.32 billion during the quarter, compared to the consensus estimate of $64.85 billion. During the same period in the previous year, the firm posted $0.13 earnings per share. BP’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts expect that BP will post 3.41 EPS for the current fiscal year.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Royal Bank of Canada downgraded shares of BP from a “top pick” rating to an “outperform” rating and set a $44.65 price objective for the company. in a research report on Tuesday, April 16th. Finally, Deutsche Bank restated a “buy” rating on shares of BP in a report on Thursday, March 7th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.41.

ILLEGAL ACTIVITY NOTICE: This report was posted by Rockland Register and is the property of of Rockland Register. If you are reading this report on another publication, it was copied illegally and republished in violation of US and international trademark and copyright law. The original version of this report can be viewed at https://rocklandregister.com/2019/05/30/bp-plc-bp-to-issue-quarterly-dividend-of-0-62-on-june-21st.html.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

See Also: Why do earnings reports matter?

Dividend History for BP (NYSE:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.