United Kingdom oil giant BP plc (ADR) (NYSE:BP) has suggested that its Russian joint venture TNK-BP pays shareholders a $1 billion provisional dividend, according to TNK-BP statement on Saturday.
The suggestion was unsettled on Friday at TNK-BP’s first board summit in over half a year. The Alfa Access Renova consortium directors representing BP’s Russian joint venture partners stated that they would revise BP’s proposal and make a decision on the payout in the coming week.
Company’s regular dividends were delayed in May due to the shareholders’ failure to decide on a new set of independent directors.
TNK-BP’s board cannot grant quarterly dividends without sufficient quorum. BP is anticipated to miss almost $430 million of earnings from TNK-BP when it announces its primary half results on July 31.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. TOTAL S.A. (ADR) (NYSE:TOT) fell -2.04% to settle at $44.10, Marathon Oil Corporation (NYSE:MRO) moved down -0.79% to end at $26.54 while Exxon Mobil Corporation (NYSE:XOM) declined -0.30% to finish on Friday at $85.95.
BP plc (ADR) (NYSE:BP) on July 20, 2012 it decreased -0.74% to the closing price of $41.55. The overall volume in the last trading session was 5.02million shares. Its fifty two week range was $33.62-$48.34. The total market capitalization remained $131.73 billion.
BP is ahead its 52 week low with +27.62% and lagging behind from its 52 week high price with -13.01%. BP last month stock price volatility remained 11.42%. In its share capital BP has 3.17 billion outstanding shares among them 2.85 billion shares have been floated in market exchange. BP stock institutional ownership remained 12.23%.
The stock price of BP is moving down from its 20 days moving average with +4.13% and remote positively from 50 days moving average with +6.61%. BP current year earnings per share experienced an addition with +777.99% while its current quarter performance remained +0.14%. Company’s beta coefficient included 1.26. Beta factors measures the amount of market risk associated with market trade.
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