Where next for BP shares ahead of its quarterly results?
BP is likely to launch a new share buyback programme when it releases its results. BP surprised shareholders earlier this month when it revealed it had reached its net debt target of $35 billion earlier than expected, driven by a better-than-expected performance in the first quarter and faster than anticipated asset sales. With debt now under control, more can be funnelled elsewhere, including into shareholder’s pockets. BP pledged to return ‘at least’ 60% of surplus cashflow through buybacks once it had reached its debt target and promised to release ‘further information’ on its ...
Source: cityindex.co.uk