Member Info for meoryou

Jakers
I like that we now only pay div we can afford.
I will like it better when they think they can afford more.
I don’t think we should ever return to the days of paying a div we did not earn.
Div should always be related to profit and affordability.
And I respect the view of those who say we could currently afford more.

Retirement
I never said about higher div I said there were only 14 quarters with div above 8 p
Which is what double 4 p is.
It’s the part where people say div was halved I was referring to.
The 8 p div was only there for 5 quarters prior to div being cut

People go on about the div being halved to 4p there have only ever been 14 quarters when div has been above 8 p and 9 of them were before 2010 and oil spill.
Some of the later 8 p div was probably not even covered by profits.
BP is financially in a totally different place now

Sterling dividends payable in cash will be converted from US dollars at an average of the market exchange rate over the three dealing days between 31 August and 2 September 2022 (£1 = US$1.16206). Accordingly, the amount of sterling dividend payable in cash on 23 September 2022 will be:



5.1718 pence per share

Think we find out div in £ tomorrow 6 th Sept

BP p.l.c. (the "Company") announces that on 5 September 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 10,098,541 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 2 August 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 467.0000
Lowest price paid per Share (pence): 452.5000
Volume weighted average price paid per Share (pence): 461.5445

Tinker
Glad you have reduced your exposure.
I did a couple of weeks ago , but still have too much in BP.
It always makes sense to de risk a bit when the price feels ok( whatever number that is)
At some time it will finally be in favour and be realistically priced .
Good luck

We are set up nicely .
If everything goes our way and the Americans behave tomorrow, then this rally could have legs.
Just avoid bad news for a few days

Felt the need this morning to top up a few thousand shares ( call it div reinvested early) in hope that by div reinvestment day it has risen a bit to take more money off those who reinvest div.
At this price with over 5% yield it felt hard to say no.
Time will tell , but how much lower can it go.
And if it does will just be back for another nibble

But like you say this big is very relevant

He recently doubled down on British energy giant BP and now owns over one million shares. But rather than dwell on its sagging, crude-dependent stock chart, he’s betting on its hydrogen fuel cells and enjoying its 6% dividend yield while he waits for the company to recover.

“They have important intellectual property in that area,” he says of the cells, which create electricity by using hydrogen as fuel, a technology Wertheim believes is the future of both air and road transportation. “We’re going to move to a hydrogen economy.”

Very interesting read thanks
Like the bit
If you like something at $13 a share, you should like it at $12, $11 or $10 a share,” Wertheim says. “If a stock continues to go down, and you believe in it and did your research, then you buy more. You are actually getting a better deal.” Whenever possible, he adds, dividends are useful in cushioning the pain of stocks that drift down or go sideways.
Also
Like most other active investors, Wertheim strives for tax efficiency. In order to harvest tax losses in his portfolio, he doubles down on his losers to avoid the IRS’ wash-sale penalties. “If I have a large loss in a stock I like,” he says, “I will purchase more, usually twice to three times the original purchase, and wait the 30 days to sell the original position and book the tax loss.”

He obviously did not just sit back and wait to become rich

We will get to the silly situation where no one is trading with Russia except nations like China and India.
But everyone will be so desperate for oil and oil products that they will buy them from China and India so indirectly buying from Russia.
It does not make sense.

Agreed all have great weekend and remember USA markets shut Monday.
So we can create havoc while they are shut.

CERNOBBIO, Italy, Sept 2 (Reuters) - Talks have begun among shareholders in the Trans-Adriatic pipeline (TAP) to expand its capacity, Azerbaijan's President Ilham Aliyev said on Friday, saying quick progress was necessary for his country to be able to boost gas exports to Europe.

Azerbaijan owns 20% of TAP with other shareholders comprising BP, Snam, Fluxys and Enagás .

"Yes. We already started practical negotiations," he said when asked if an expansion was being discussed.

Speaking at the annual Ambrosetti business forum on Italy's Lake Como, Aliyev said Azerbaijan needed TAP's capacity to grow to comply with an accord to double gas exports to Europe over the next five years.

"With the European Commission we agreed by 2027 to increase the exports of Azerbaijani gas to Europe two times, up to 20 billion cubic metres. Without the expansion of TAP it won't be possible," he told reporters on the sidelines of the conference.

"We should plan a joint investment project and do it very soon," he added.

Aliyev said Italy had received 11.7 billion cubic metres of the overall 13.5 billion cubic metres of gas exported by Azerbaijan in the year-and-a-half since it first started exports to Europe.

He said gas exports to Italy would reach nearly 10 billion cubic metres this year.

"It is much more in comparison with last year but for more gas we need to expand the capacity of TAP from 10 to 20 billion cubic metres," he said.

BP p.l.c. (the "Company") announces that on 2 September 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,468,739 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 2 August 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 457.4500
Lowest price paid per Share (pence): 444.0000
Volume weighted average price paid per Share (pence): 452.9059

But it does have major impact on div in £
https://www.bloomberg.com/news/articles/2022-09-01/once-unthinkable-parity-for-sterling-is-fast-on-the-horizon

The house rules continually change so we never know what going to happen next
The only one that stays the same is
Heads they win
Tails you loose

Chandley
I agree with all your post
Except
Could be tomorrow.
Think you need to know tomorrow is Saturday.
But yes maybe Monday.
Just the Pedantic Police
Hopefully another FEEL GOOD FRIDAY starting.
Maybe soon we can look back and £4.50 will be the new £4( or maybe we can finally break £5) nothing has changed we are a Cash Cow

https://www.upstreamonline.com/rigs-and-vessels/ruby-sets-sail-from-south-korea-for-huge-indian-deep-water-project/2-1-1288652

Some more info and pictures.
It almost looks like cruise ship,all lit up and huge

BP p.l.c. (the "Company") announces that on 1 September 2022 it has purchased, in accordance with the authority granted by shareholders at the 2022 Annual General Meeting of the Company, a total of 11,679,242 of its ordinary shares of $0.25 each ("Shares") on the London Stock Exchange and Cboe (UK) as part of the buyback programme announced on 2 August 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 445.4000
Lowest price paid per Share (pence): 436.5500
Volume weighted average price paid per Share (pence): 440.5313