BP Tops Third-Quarter Estimates, Boosts Dividend

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Oct. 29 (Bloomberg) -- Bloomberg’s Ryan Chilcote reports that BP topped estimates as earnings fell less than expected and announced an increase to its dividend. He speaks on Bloomberg Television’s “Countdown.”

Ryan chilcote is here with more.

We have adjusted profits.

It was for 3.4. it is a drop from 5 billion last year.

We knew that because the margins are down and the price of oil is not.

We're waiting on more information.

We can see the quarterly dividends up a little bit more than we anticipated.

We are looking for 9.5 cents.

This is welcome news from bp.

What we have not seen yet and will will be looking for is a change in provision to 9.6. that is part of the 42 billion that they have set aside to clean up after the spill.

The settlement costs are coming and higher than anticipated stop there is anticipation that they would raise that provision and they have not done that yet.

We will have to keep watching those numbers.

Generally speaking, pretty upbeat for bp.

Litigation issues.

Nothing as of yet.

Nothing as of yet.

That is the issue with bp.

Not just whether or not they will be found grossly negligent.

A judge will weigh in and find bp for what happened 3.5 years ago.

How much will this cost?

That is the litigation issue.

5.6% is better than what we anticipated.

X dictation is that -- cap actex is at -- >it is too early now for that.

There we have it.

Thanks a lot.

This text has been automatically generated. It may not be 100% accurate.


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