BP Follows Big Oil Peers by Increasing Buybacks and Dividend

Yahoo! Finance Aug 03, 2021 02:50 AM ET

(Bloomberg) -- BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit.The oil majors -- with the notable exception of Exxon Mobil Corp. -- are raising returns as they express confidence that the worst of the slump caused by the coronavirus pandemic is over. Their goal is to woo investors who are becoming increasingly wary about the future of the fossil fuels in a changing climate.BP will increase its dividend by 4% to 5.46 cents a share