Following the quarterly results, much better than expected, oil company BP raised its dividend for the second time in less than a year, while a legal battle with US authorities looms over the Gulf oil spill in 2010.
In the third quarter, in fact, the company's profits, despite a decrease compared to the 5,5 billion collected in the same period of the previous year, settled at 5,2 billion, against much more negative expectations of a profit of 4,1 billion dollars and a sharp increase compared to 3,7 billion in the second quarterAnd. The effects of the reduction in activity and the drop in oil prices were offset by good refining margins and the high availability of refinery capacity.
The increase 12,5% of the dividend, at 9 cents per share, can mainly be explained by BP's attempt to regain investor confidence after the abrupt interruption of payments to shareholders following the exit of Macondo.
