On 30 October 2012, the Directors of BP p.l.c.
announced that the interim dividend for the third quarter
2012 would be US$0.09 per ordinary share (US$0.54 per ADS).
This interim dividend is to be paid on 21 December 2012 to
shareholders on the share register on 9 November 2012. The
dividend is payable in cash in sterling to holders of
ordinary shares and in US dollars to holders of ADSs. A
scrip dividend alternative will be made available for this
dividend allowing shareholders to elect to receive their
dividend in the form of new ordinary shares and ADS holders
in the form of new ADSs.
The 'Reference Share Price' for the issue of
new ordinary shares under the scrip dividend alternative
US$ 6.850 for each new ordinary share.
For holders of ordinary shares this is equivalent to
1 new share for
approximately every 76.111 shares held prior to the
date of 7 November 2012.
The Reference Share Price is the average of the
US dollar equivalent of the closing mid price quotation for
a BP ordinary share on the London Stock Exchange Daily
Official List for the four consecutive dealing days
beginning on the ex-dividend date of 7 November 2012. The
US dollar equivalent price each day is calculated from the
sterling closing mid price using the exchange rate
published by the Bank of England at 4pm each day.
The 'Reference ADS Price' for the issue of
new ADSs under the scrip dividend alternative is:
US$ 41.150 for each new ADS.
For holders of ADSs this is equivalent to 1 new ADS
for approximately every 76.204 ADSs held prior to the
ex-dividend date of 7 November 2012.
The Reference ADS Price is calculated by multiplying
the Reference Share Price by six (as there are six ordinary
shares underlying each ADS) and adjusting for the fee
payable to the Depositary under the ADS Deposit Agreement
($0.05 per ADS). Prior to the first quarter dividend
payment stamp duty reserve tax ("SDRT") of 1.5%
was deducted from this calculation, but following a recent
tax tribunal decision, HM Revenue & Customs will no longer
seek to impose 1.5% SDRT on issues of UK shares and
securities to non-EU clearance services and depositary
Dividends payable in cash in sterling on 21 December
2012 will be converted from US dollars at the
average of the market exchange rates for the four dealing
days from 4 December 2012 to 7 December 2012. The sterling
cash dividend will be announced to
the London Stock Exchange on 10 December
The latest date for receipt of elections to
participate in the Scrip Dividend Programme for this
interim dividend is 3 December 2012. Shareholders must
return their mandate form or otherwise input their CREST
elections, to be received by BP's Registrar, Capita
Registrars, by 4.30 pm (London time) on 3 December 2012,
and ADS holders must return their election form to the
Depositary, JPMorgan Chase Bank N.A., by 5.00 pm (New York
time) on that date. Elections received after this deadline
will apply to subsequent dividends only. Unless revoked by
you, your scrip dividend election will apply for all future
dividends for which a scrip dividend is offered.
Evergreen elections for CREST shareholders will not be
accepted and elections will revert to cash by default after
the payment of each dividend.