On February 7, BP (NYSE:BP) announced its fourth quarter and full year 2022 results. Like other supergiants, the company took advantage of soaring oil and gas prices, delivering record profits throughout 2022 and opting to raise its dividend and expand share buybacks.
BP’s Q4 adjusted net profit was $4.81 billion, down from a record level earlier this year and below the average analyst estimate of $5.11 billion. But full-year profit reached $27.65 billion, a record high. Q4 adjusted earnings per ADS were $1.59, compared to $8.74 for the full year.
Increase dividend by 10% to 6.61 cents per share and further repurchase of $2.75 billion in shares.
Invest USD 8 billion each by 2030. Total capital expenditures are likely to be slightly higher than previously planned, totalling between $16 billion and $18 billion in 2023 and between $14 billion and $18 billion per year for the 2024-30 period.