BP BOARD TO DISCUSS DIVIDENDS ON MONDAY
BP directors will meet on Monday to discuss whether to suspend dividends to shareholders, the BBC has learned, according to BBC.
Executives will then meet with US President Barack Obama on Wednesday, but no announcement on the payments is expected in the near future.
BP has been under intense pressure from the US government, which wants BP to use the money to pay for the Gulf of Mexico clean-up.
Meanwhile, BP`s shares closed up 7.2%, recovering losses suffered on Thursday.
"No announcement is expected for a while, but it is looking more likely that BP will cease paying the £1.8bn of dividends per quarter that it`s been delivering to shareholders - until that is it can quantify the final massive bill for the Gulf of Mexico oil debacle and prove to the White House that it can afford those enormous costs," BBC business editor Robert Peston said.
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