06/09/2010 // UK // TiffNews10 // News Desk
U.S. – Shares for global British energy company BP Plc fell this week amid increasing fears about legal claims and incurred debt from damages from the massive oil spill in the Gulf of Mexico. As reported by Reuters, the stock price decreased by approximately 6 percent in London Wednesday, after it had fallen 5 percent on Tuesday.
Tony Shepard, an oil analyst at brokerage Charles Stanley in London, is quoted by Reuters as stating of anticipation that there may be a dividend cut for the company, “People are resigning themselves to the fact that there may be a suspension of the dividend.”
Evgeny Solovyov, oil analyst at Societe Generale, is further quoted as stating of the issue in a research note, “We now think there is a 50 percent probability BP will skip its upcoming quarterly dividend.”
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