BP eliminates dividend
Los Angeles Times
BP Chairman Carl-Henric Svanberg said today that the oil company’s board of directors has decided not to pay any more dividends this year.
BP has been under intense pressure from the Obama administration to cut or eliminate the $10.5 billion it distributes to shareholders.
Svanberg, speaking to reporters outside the White House following a meeting with President Obama, didn’t say how long the dividend would be suspended.
