Member Info for meoryou

BP p.l.c. (the "Company") announces that on 01 July 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,000,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 391.5500
Lowest price paid per Share (pence): 377.450
Volume weighted average price paid per Share (pence): 384.7586

Tinker
Even a 10 % rise in div would not do much for yield if sp went higher.
However 10% each year till 2025 would give about 5% at £5.00 sp.
(I think people will hope we are higher than £5 by 2025)
I do think however that there is a growing number of people who want a significant div rise sooner rather than later.
I kind of have a foot in both camps ( can see benefits of both strategies)

Just been looking at Oil price this year
1 st quarter there was roughly one month of prices over 100 dollars
2 nd quarter has almost all been over 100 dollars.
Yet currently sp is not even 10% higher than the start of year even as oil is up about 50% .
Even allowing for a future recession it’s still hard to make sense of this.

Bumble
I am sure you are correct.
BP prided itself on staying out of politics in the past.
Just worried Bernard a bit too quick to get involved.

I was surprised to see BP and Shell rushed into this.
I did not think it would have been first in their in- tray but apparently it was.
Sometimes it pays to pause and have a wee think first.

Busman
I get the feeling the bigger shareholders are happy with this strategy.
They will meet up with them from time to time at investor days.
It does kind of make sense if the only goal is to buy up as many shares as possible as cheaply as possible
What I find very strange is that the market does not take advantage of this buyback to stick price up to £5 then plummet it back to £3 something every time buyback ends.
Usually market sees buyback as a way to part the company from its cash.
Don’t think any UK company doing buybacks has seen sp increase even by as much as BP ( possibly Shell).

BP p.l.c. (the "Company") announces that on 30 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,000,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 398.350
Lowest price paid per Share (pence): 384.8500
Volume weighted average price paid per Share (pence): 391.4285

David
In the early 80s there was a wage freeze set up by the government.
I think they set the wage rise each year.
You could get slightly more using a productivity bonus, but it was not part of your wage.
This went on for about 3 years.
At the end our productivity bonus was consolidated into our wage, probably after a change of government.

Charlie
I can’t disagree.
But the buyback after the Russian disposal and buying of a stake in Rosneft was poorly timed after oil spill.
It was labelled as a return of the capital from the disposal, but was carried out during a period of downward pressure on sp.
Never a great time for a buy back when sp has downward pressure.
I’m sure several others were at relatively high sp also.
This time we mainly think sp is low for the amount of profits, so perhaps this time it is a bargain.
Time will tell.
Zac said yesterday he thinks we have potentially cancelled 3.7% of shares issued in first half of year.
If you double that up for whole year that gives 7.4% .
Even if we very generously say 1.4% new shares are issued that still cancels 6%.
I hope we never need to issue 1.4% of new shares ( it was just to keep maths simple)
So can we expect a 6% increase in div, plus the part from dollar pounds movement?

https://www.bp.com/en/global/corporate/investors/information-for-shareholders/shares-in-issue-and-share-buybacks.html

BP p.l.c. (the "Company") announces that on 29 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 7,500,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 406.00
Lowest price paid per Share (pence): 397.150
Volume weighted average price paid per Share (pence): 402.877

Don’t know if buybacks are tapering off or if volume has been lower today

Maybe we should do some buybacks in America too.
But I guess they don’t want to drop number of shares in America.

Looks like we are back for another day of battling with £4

There was a couple of weeks when it appeared like they were not using just any excuse to drop the BP sp
But now it seems to be back to that again.
I did note end last week that in Us BP was 1% less down than Exxon , then the next day BP were 1% more up than Exxon, but yesterday it flipped and Exxon were treated better.
I had hoped this was a new pattern.

That should have read 21 st June (Twenty First June)

There now has been an RNS to correct mistake I highlighted on 22 st June

BP p.l.c. (the "Company") announces that on 28 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 8,500,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 405.000
Lowest price paid per Share (pence): 397.050
Volume weighted average price paid per Share (pence): 401.6546

Egypt has awarded BP gas exploring rights in the offshore King Mariout concession in the western Mediterranean, the British-based company said in a statement today, Reuters reported.

The concession area, located in the western Nile Delta, covers around 2,600 square kilometres at a depth of between 500 and 2,000 metres.

BP owns 100 per cent of the exploration rights in the area, which enhances the chances of developing future gas discoveries by utilising the existing infrastructure, the statement added.

BP p.l.c. (the "Company") announces that on 27 June 2022 it has purchased, in accordance with the authority granted by shareholders at the 2021 Annual General Meeting of the Company, a total of 9,500,000 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 3 May 2022 (the "Programme") and as detailed below:
Highest price paid per Share (pence): 394.1000
Lowest price paid per Share (pence): 383.1000
Volume weighted average price paid per Share (pence): 390.4753

Sounds like a no brainier.
Hope it still looks such a good investment in 6 month and 1 year.