BP 2011 Annual Report Download - page 161

Additional information for shareholders
BP Annual Report and Form 20-F 2011 159
Additional information for shareholders
In accordance with DTR 5, we have received notification that as at
31 December 2011 BlackRock, Inc. held 5.69% and Legal & General
Group Plc held 3.90% of the voting rights of the issued share capital of the
company. As at 17 February 2012 BlackRock, Inc. held 5.37% and Legal
& General Group Plc held 3.99% of the voting rights of the issued share
capital of the company.
Under the US Securities Exchange Act of 1934 we have received
notification of the following interests as at 17 February 2012:
Holder
Holding of
ordinary shares
Percentage
of ordinary
share capital
excluding
shares held
in treasury
JPMorgan Chase Bank, depositary for
ADSs, through its nominee Guaranty
Nominees Limited 5,031,905,448 26.51
BlackRock, Inc. 1,019,731,492 5.37
Legal & General Group plc 758,363,148 4.00
The company’s major shareholders do not have different voting rights.
On 17 May 2011, BP announced that the Rosneft Share Swap
Agreement, originally announced on 14 January 2011, had terminated. For
further information see Legal proceedings on page 166.
The company has also been notified of the following interests in
preference shares as at 17 February 2012:
Holder
Holding of 8%
cumulative first
preference shares
Percentage of
class
The National Farmers Union Mutual
Insurance Society 945,000 13.07
M & G Investment Management Ltd. 528,150 7.30
Duncan Lawrie Ltd. 426,876 5.90
Smith & Williamson Investment
Management Ltd. 407,250 5.63
Barclays Wealth 370,931 5.13
Holder
Holding of 9%
cumulative second
preference shares
Percentage of
class
The National Farmers Union Mutual
Insurance Society 987,000 18.03
M & G Investment Management Ltd. 644,450 11.77
Royal London Asset Management Ltd. 438,000 8.00
Smith & Williamson Investment
Management Ltd. 405,500 7.41
Ruffer LLP 294,000 5.37
Lazard Asset Management Limited disposed of its interests in 374,000
8% cumulative first preference shares and 404,500 9% cumulative second
preference shares during 2011.
Gartmore Investment Management Limited disposed of its interest
in 394,538 8% cumulative first preference shares and 500,000 9%
cumulative second preference shares during 2010.
As at 17 February 2012, the total preference shares in issue
comprised only 0.44% of the company’s total issued nominal share capital
(excluding shares held in treasury), the rest being ordinary shares.
Called-up share capital
Details of the allotted, called-up and fully-paid share capital at 31 December
2011 are set out in Financial statements – Note 38 on page 241.
At the AGM on 14 April 2011, authorization was given to the
directors to allot shares up to an aggregate nominal amount equal to
$3,133 million. Authority was also given to the directors to allot shares for
cash and to dispose of treasury shares, other than by way of rights issue,
up to a maximum of $235 million, without having to offer such shares
to existing shareholders. These authorities are given for the period until
the next AGM in 2012 or 14 July 2012, whichever is the earlier. These
authorities are renewed annually at the AGM.
Dividends
When dividends are paid on its ordinary shares, BP’s policy is to pay
interim dividends on a quarterly basis.
BP policy is also to announce dividends for ordinary shares in US
dollars and state an equivalent sterling dividend. Dividends on BP ordinary
shares will be paid in sterling and on BP ADSs in US dollars. The rate of
exchange used to determine the sterling amount equivalent is the average
of the market exchange rates in London over the four business days prior
to the sterling equivalent announcement date. The directors may choose
to declare dividends in any currency provided that a sterling equivalent
is announced, but it is not the company’s intention to change its current
policy of announcing dividends on ordinary shares in US dollars.
Information regarding dividends announced and paid by the
company on ordinary shares and preference shares is provided in Financial
statements – Note 19 on page 212.
A Scrip Dividend Programme (Programme) was introduced in
2011 which enables BP ordinary shareholders and ADS holders to elect to
receive new fully paid ordinary shares in BP (or ADSs in the case of ADS
holders) instead of cash. The operation of the Programme is always subject
to the directors’ decision to make the scrip offer available in respect of
any particular dividend. Should the directors decide not to offer the scrip in
respect of any particular dividend, cash will automatically be paid instead.
Future dividends will be dependent on future earnings, the financial
condition of the group, the Risk factors set out on pages 59-63 and other
matters that may affect the business of the group set out in Our strategy
on pages 37-41 and in Liquidity and capital resources on page 103.
The following table shows dividends announced and paid by the
company per ADS for each of the past five years.
Dividends per ADS March June September December Total
2007 UK pence 31.5 30.9 31.7 31.8 125.9
US cents 61.95 61.95 64.95 64.95 253.8
Canadian
cents 73.3 69.5 67.8 63.6 274.2
2008 UK pence 40.9 41.0 42.2 52.2 176.3
US cents 81.15 81.15 84.0 84.0 330.3
Canadian
centsa80.8 82.5 85.8 108.6 357.7
2009 UK pence 58.91 57.50 51.02 51.07 218.5
US cents 84 84 84 84 336
2010 UK pence 52.07 –––52.07
US cents 84 –––84
2011 UK pence 26.02 25.68 25.90 26.82 104.42
US cents 42 42 42 42 168
a BP shares were de-listed from the Toronto Stock Exchange on 15 August 2008 and the last
dividend payment in Canadian dollars was made on 8 December 2008.