BP has outlined an aggressive dividend strategy for the coming year, promising to return 100% of its free cash flow to shareholders ? which will likely total more than $23 billion.
While many companies have promised to return much of their free cash to stakeholders, few have been so explicit or comprehensive.
CFO Byron Grote and group chief executive John Browne made the promise after BP’s annual results were announced this morning. The company reported profits of £9 billion in 2004.
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