BP today announced an interim dividend of 5.46 cents per ordinary share which is expected to be paid on 24 June 2022 to ordinary shareholders and American Depositary Share (ADS) holders on the register on 13 May 2022. The ex-dividend date will be 12 May 2022.
Other financial highlights include:
• Reported loss for the quarter was $20.4 billion, compared with a profit of $2.3 billion for the fourth quarter 2021. The reported result includes adjusting items before tax of $30.8 billion.
• Adjusting items include pre-tax charges of $24.0 billion and $1.5 billion as a result of the loss of significant influence and bp's decision to exit its 19.75% shareholding in Rosneft and its other businesses with Rosneft in Russia respectively. As a result, in the first quarter the post-tax charge is $24.4 billion and the total reduction in equity is $14.7 billion. Adjusting items also include fair value accounting effects of $5.8 billion.
• Underlying replacement cost profit was $6.2 billion, compared with $4.1 billion for the previous quarter. This was driven by exceptional oil and gas trading, higher oil realizations and a stronger refining result, partly offset by the absence of Rosneft from the first quarter underlying result.