BP Boosts Dividend as Q2 Earnings Top Estimates

BP (NYSE: BP) raised its dividend by 10% and extended its buyback program as it booked better-than-expected earnings for the second quarter of the year. The UK-based supermajor reported on Tuesday $2.8 billion in underlying replacement cost profit – the metric closest to net profit – for April to June, up from $2.7 billion for the previous quarter. The earnings were also higher than the $2.59 billion for the second quarter of 2023, and ahead of the analyst consensus of $2.54 billion. Compared with the first quarter of 2024, the result…