BP commits to share buybacks, increases dividend

BP boosted its dividend and share buyback overnight off the back of a US$2.8 billion second-quarter profit thanks to high oil prices, with operating cash flow reaching $5.4 billion.

BP commits to share buybacks, increases dividend BP commits to share buybacks, increases dividend BP commits to share buybacks, increases dividend BP commits to share buybacks, increases dividend BP commits to share buybacks, increases dividend

Lowers long-term oil price outlook as transition accelerates

The company raised its dividend by 4% to 5.46 cents per share and promised $1.4 billion in share buybacks, driving shares up 5.6%, overtaking its European rivals, Shell and TotalEnergies.