Then...

BP paying out $2.63B in dividends on June 21
June 8, 2010

NEW YORK – BP PLC will pay shareholders $2.63 billion in dividends on June 21 as investors and U.S. lawmakers wait to see what the oil company decides about future payouts.

The company announced the dividend on April 27, one week after a BP well in the Gulf of Mexico exploded and set off the largest oil spill in U.S. history. Lawmakers have urged the company to postpone its dividend for the second quarter. BP hasn't announced plans yet for holders of ordinary shares will receive 14 cents. Holders of American depositary shares get 84 cents. Each ADS represents 6 ordinary shares.

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& Now...

BP Agrees to $20B Escrow Fund for Gulf Spill Claims
June 16, 2010

WASHINGTON (CN) - BP executives on Wednesday agreed to set aside $20 billion in an escrow account to pay claims for damages arising from the Gulf oil spill. "This is not a cap," President Obama said after meeting with the company's executives at the White House.
     BP said it would direct an additional $100 million to oil rig workers who lost their jobs due to the 6-month moratorium on deepwater drilling in the Gulf. The company also said it would not make any more shareholder dividend payments this year and will cancel the first quarter dividend payment scheduled for June 21.

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BP shareholders hit by dividend freeze
June 17, 2010

BP shareholders face a freeze on dividends until the end of the year as the oil giant caves in to pressure from the US authorities.

This means the payment due on 21 June will be cancelled and the dividends for the second and third quarters will not be declared.

However, it added that it will consider starting to repay dividends in 2011 along with its fourth-quarter results, by which time it expects to have a clearer picture of the longer-term impact of the Deepwater Horizon incident.

'We regret the cancellation and suspension of the dividends, but we concluded it was in the best interest of the company and its shareholders,' said chairman Carl-Henric Svanberg.

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Though decidely not of subject, a different reading than the bonus and perk news from previously bailed companies, seeming more expressive of the seriousness of the matter.

Now may be a good time to buy BP stock. It could go a little lower but I bet it'll go back to it's 2-month-ago price within a year. And yes, I do own BP stock and have lost half my investment but I sure as heck ain't selling it now.

The British Govt will make sure BP is ok. A lot of public servents and state pensions are relying on it's survival.


Lefty

I want my shrimp and oysters.

To hell with the shareholders. Some things are more important than money.

You realize I'm kidding...? Right?

On second thought.....

Steve G

Lefty wrote on Jun 17^th, 2010 at 7:19pm:

The British Govt will make sure BP is ok. A lot of public servents and state pensions are relying on it's survival. Lefty

Ah, so the British taxpayer will help pay for the immense  damages caused by BP? Splendid of you chaps! Cheers!!