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BP suspends dividends for this year.

by admin on June 16th, 2010

BP has realized that its obligations in the Gulf will force it to suspend paying it’s dividend for at least the remainder of the year. BP pays out about 10.5 billion annually to shareholders. Chairman Carl-Henric Svanberg made the announcement today after meetings this morning with the President and his staff where BP promised to put $20 billion into an escrow fund managed by a third party.

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