BP Annual Report and Form 20-F 2011 - Company Reporting

Additional information for shareholdersIn accordance with DTR 5, we have received notification that as at31 December 2011 BlackRock, Inc. held 5.69% and Legal & GeneralGroup Plc held 3.90% of the voting rights of the issued share capital of thecompany. 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 sharecapital of the company.Under the US Securities Exchange Act of 1934 we have receivednotification of the following interests as at 17 February 2012:HolderHolding ofordinary sharesPercentageof ordinaryshare capitalexcludingshares heldin treasuryJPMorgan Chase Bank, depositary forADSs, through its nominee GuarantyNominees Limited 5,031,905,448 26.51BlackRock, Inc. 1,019,731,492 5.37Legal & General Group plc 758,363,148 4.00The company’s major shareholders do not have different voting rights.On 17 May 2011, BP announced that the Rosneft Share SwapAgreement, originally announced on 14 January 2011, had terminated. Forfurther information see Legal proceedings on page 166.The company has also been notified of the following interests inpreference shares as at 17 February 2012:HolderHolding of 8%cumulative firstpreference sharesPercentage ofclassThe National Farmers Union MutualInsurance Society 945,000 13.07M & G Investment Management Ltd. 528,150 7.30Duncan Lawrie Ltd. 426,876 5.90Smith & Williamson InvestmentManagement Ltd. 407,250 5.63Barclays Wealth 370,931 5.13HolderHolding of 9%cumulative secondpreference sharesPercentage ofclassThe National Farmers Union MutualInsurance Society 987,000 18.03M & G Investment Management Ltd. 644,450 11.77Royal London Asset Management Ltd. 438,000 8.00Smith & Williamson InvestmentManagement Ltd. 405,500 7.41Ruffer LLP 294,000 5.37Lazard Asset Management Limited disposed of its interests in 374,0008% cumulative first preference shares and 404,500 9% cumulative secondpreference shares during 2011.Gartmore Investment Management Limited disposed of its interestin 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 issuecomprised 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 capitalDetails of the allotted, called-up and fully-paid share capital at 31 December2011 are set out in Financial statements – Note 38 on page 241.At the AGM on 14 April 2011, authorization was given to thedirectors to allot shares up to an aggregate nominal amount equal to$3,133 million. Authority was also given to the directors to allot shares forcash 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 sharesto existing shareholders. These authorities are given for the period untilthe next AGM in 2012 or 14 July 2012, whichever is the earlier. Theseauthorities are renewed annually at the AGM.DividendsWhen dividends are paid on its ordinary shares, BP’s policy is to payinterim dividends on a quarterly basis.BP policy is also to announce dividends for ordinary shares in USdollars and state an equivalent sterling dividend. Dividends on BP ordinaryshares will be paid in sterling and on BP ADSs in US dollars. The rate ofexchange used to determine the sterling amount equivalent is the averageof the market exchange rates in London over the four business days priorto the sterling equivalent announcement date. The directors may chooseto declare dividends in any currency provided that a sterling equivalentis announced, but it is not the company’s intention to change its currentpolicy of announcing dividends on ordinary shares in US dollars.Information regarding dividends announced and paid by thecompany on ordinary shares and preference shares is provided in Financialstatements – Note 19 on page 212.A Scrip Dividend Programme (Programme) was introduced in2011 which enables BP ordinary shareholders and ADS holders to elect toreceive new fully paid ordinary shares in BP (or ADSs in the case of ADSholders) instead of cash. The operation of the Programme is always subjectto the directors’ decision to make the scrip offer available in respect ofany particular dividend. Should the directors decide not to offer the scrip inrespect of any particular dividend, cash will automatically be paid instead.Future dividends will be dependent on future earnings, the financialcondition of the group, the Risk factors set out on pages 59-63 and othermatters that may affect the business of the group set out in Our strategyon pages 37-41 and in Liquidity and capital resources on page 103.The following table shows dividends announced and paid by thecompany per ADS for each of the past five years.Dividends per ADS March June September December Total2007 UK pence 31.5 30.9 31.7 31.8 125.9US cents 61.95 61.95 64.95 64.95 253.8Canadiancents 73.3 69.5 67.8 63.6 274.22008 UK pence 40.9 41.0 42.2 52.2 176.3US cents 81.15 81.15 84.0 84.0 330.3Canadiancents a 80.8 82.5 85.8 108.6 357.72009 UK pence 58.91 57.50 51.02 51.07 218.5US cents 84 84 84 84 3362010 UK pence 52.07 – – – 52.07US cents 84 – – – 842011 UK pence 26.02 25.68 25.90 26.82 104.42US cents 42 42 42 42 168Additional information for shareholdersa BP shares were de-listed from the Toronto Stock Exchange on 15 August 2008 and the lastdividend payment in Canadian dollars was made on 8 December 2008.BP Annual Report and Form 20-F 2011 159