BP announced today that the company will reinstate their dividend program at $.07 per share for the fourth quarter.
The dividend announcement comes as Schlumberger reported revenues growth of 58% in the fourth quarter with net income rising 42%.
A recent research report from Sanford C. Bernstein & Co. commented that BP is on track to restore their dividend next year.
No sector reflects the markets attitude change more clearly than the deepwater drilling stocks.
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BP will likely be forced to modify their dividend program, but speculation over a possible bankruptcy or acquisition appears remote given these numbers.
For weeks now, questions, rumors, speculation and predictions have been swirling about BP.
Goldman Sachs analyst, Michelle della Vigna, believes that the increasing cost of damages and reduced earnings outlook will impact BP’s dividend.