BP 2010 Annual Report Download - page 41

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Businessreview
Business review
Sharepriceanddividendconsequences
Asaresultoftheincident,BP’sboardrevieweditsdividendpolicyand
decidedthatnoordinarysharedividendswouldbepaidinrespectofthe
rst,secondandthirdquartersof2010.Furthermore,theBPshareprice
sufferedasignicantfallontheLondonStockExchange,from655pence
pershareonthedayoftheincidenttoreachatradinglowpointof296
pencepershareon25June2010.Althoughtherehassincebeensome
recoveryintheshareprice,at493pencepershareon18February2011,it
remainedconsiderablybelowitslevelimmediatelybeforetheincident.
(See Share prices and listings on page 134 for further information on the
performance of BP’s share price.)
Otherconsequences
BP’sreputationhasbeendamagedbytheincident.Forfurtherinformation,
seeRiskfactorsonpages27-32.
BP’s long-term commitment to the Gulf of Mexico region
TheGulfofMexicoincidenthashadaprofoundimpactonthepeopleand
economyoftheGulfcoastaswellastheoffshoreenergyindustryandBP.
Fromthebeginning,BPhasworkedtirelesslytoaddressthe
economicandenvironmentalimpactofthespillandhasadedicatedteam
workingcloselywithlocalandstateofcialstoensurethatgovernment
claimsarepaidinafairandexpeditiousmanner.
BPhasalsoprovidedfundingtopromotetourismandseafood
safety–twocornerstonesoftheGulfcoasteconomy–andhas
workedcloselywithstateandlocalleaderstorestoretheeconomichealth
oftheregion.
Werecognizethatenvironmentalandeconomicrestorationmeans
morethanjustcleaninguptheoilandpayingforlossesexperiencedacross
theGulfcoast.Weintendtoensurethatthelong-termimpactsoftheoil
spillareunderstoodandremediated.
BPAnnualReportandForm20-F2010 39