British oil giant, BP said it will its interim dividend for the first quarter 2017 would be US$0.10 per ordinary share (US$0.60 per ADS).
The company said it is to be paid on 23 June 2017 to shareholders on the share register on 12 May 2017. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs.
BP said a scrip dividend alternative will be made available for this dividend allowing shareholders to elect to receive their dividend in the form of new ordinary shares and ADS holders in the form of new ADSs.
The ‘Reference Share Price’ for the issue of new ordinary shares under the scrip dividend alternative is: US$5.9920 for each new ordinary share.
Dividends payable in cash in sterling on 23 June 2017 will be converted from US dollars at the average of the market exchange rates for the four dealing days from 6 to 9 June 2017. The sterling cash dividend will be announced to the London Stock Exchange on 12 June 2017.