If you are a BP shareholder, you are hearing some encouraging news. Incoming CEO Bob Dudley is talking about restoring dividends for shareholders. He says that the dividends could start going out after the first quarter of the New Year.
This is certainly good news for BP stockholders who saw their dividend payments cancelled out by the Gulf of Mexico oil spill. Mr. Dudley says that BP is doing brisk enough business that the board will probably decide to reinstate the dividend payments. He emphasizes, however, that it is a decision for the board and not him alone.
He also acknowledges that there is still some way for BP to go before it can restore the confidence of the United States. He notes that BP is the largest producer of energy in the United States and that the U.S. consumes a large amount of energy, as if the two were somehow related. He believes that BP has done the right thing by the people of the Gulf of Mexico so far and that, if they continue to do so, it will go a long way toward the company regaining its reputation in America.
While acknowledging that the disaster was a major wake up call for BP and the rest of the gas and oil industry, he falls short of faulting anyone or saying that any mistakes were made regarding the spill. He even credits former CEO, Tony Hayward, for having done a good job.