BP beats forecasts with $5bn profit and raises dividend

Guardian: Oil giant BP raced ahead of analysts' expectations with a third-quarter profit of $5.2bn (£3.2bn) and is raising its dividend for shareholders. A week after announcing the sale of its 50% stake in Russian oil group TNK-BP to the Kremlin-controlled Rosneft, BP said it would increase its third-quarter dividend to 9¢ per share - a rise of 12.5%. BP's chief executive, Bob Dudley, said: "BP's performance and the strong progress we are making in transforming the company give us the confidence to increase...

URL: http://www.guardian.co.uk/business/2012/oct/30/bp-beats-forecasts-5bn-profit-dividend