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BP (BP) plans to repurchase $8B in shares after the completion yesterday of the sale of its 50%...

BP (BP) plans to repurchase $8B in shares after the completion yesterday of the sale of its 50% stake in TNK-BP to Rosneft, following which BP was left with $12.5B in cash and a 19.75% stake in the Russian oil major. The $8B is equivalent to the value of BP's original investment in TNK-BP.
Comments (7)
  • bikerskibum
    , contributor
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    This should help to keep the dividend safe or even raise it slightly?
    22 Mar 2013, 06:01 AM Reply Like
  • Jdeboer87
    , contributor
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    This repurchase represents 6% of the mkt cap. It should make it easier for them to increase the dividend later in the year. Of course we will just need to wait and see what happens with the court case.
    22 Mar 2013, 06:07 AM Reply Like
  • tomlos
    , contributor
    Comments (1073) | Send Message
     
    Good news.... Those who are patient with BP shall be rewarded despite all of the doom and gloom you hear from some.
    22 Mar 2013, 08:24 AM Reply Like
  • CardiacNP
    , contributor
    Comments (24) | Send Message
     
    I remain long on BP with it being 4.84% of my portfolio and a YOC of 5.23%
    22 Mar 2013, 08:31 AM Reply Like
  • jefb
    , contributor
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    Does anyone know whether the repurchased shares will be "retired" or held for eventual disbursement as bonus's or part of an employee stock purchase plan?
    22 Mar 2013, 10:38 AM Reply Like
  • curious-george
    , contributor
    Comments (126) | Send Message
     
    be careful BP
    may this encourage government to contrive more and higher damage claims?
    may it be wiser to appear damaged & lame while fighting courts & claims?
    after the dust settles, let the tiger roar!
    22 Mar 2013, 11:35 AM Reply Like
  • bikerskibum
    , contributor
    Comments (50) | Send Message
     
    It seems exactly the opposite to me. Whittle down the cash pot that the greedy litigants are eyeing up!
    23 Mar 2013, 06:16 AM Reply Like
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