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

Notes on financial statements19. DividendsThe quarterly dividend expected to be paid on 30 March 2012 in respect of the fourth quarter 2011 is 8 cents per ordinary share ($0.48 per AmericanDepositary Share (ADS)). The corresponding amount in sterling will be announced on 19 March 2012. A scrip dividend alternative is available, allowingshareholders to elect to receive their dividend in the form of new ordinary shares and ADS holders in the form of new ADSs.On 1 February 2011 BP announced the resumption of quarterly dividend payments with a fourth-quarter 2010 dividend of 7 cents per share. Theresumption came after the suspension of dividends for the first three quarters of 2010 in light of the Gulf of Mexico oil spill and commitments to fund the$20-billion Trust.Pence per share Cents per share $ million2011 2010 2009 2011 2010 2009 2011 2010 2009Dividends announced and paid in cashPreference shares 2 2 2Ordinary sharesMarch 4.3372 8.679 9.818 7 14 14 808 2,625 2,619June 4.2809 – 9.584 7 – 14 794 – 2,619September 4.3160 – 8.503 7 – 14 1,224 – 2,620December 4.4694 – 8.512 7 – 14 1,244 – 2,62317.4035 8.679 36.417 28 14 56 4,072 2,627 10,483Dividend announced, payable inMarch 2012 a 8 1,517aThe amount in sterling will be announced on 19 March 2012.The details of the scrip dividends issued are shown in the table below.2011 2010 2009Number of shares issued (thousand) 165,601 – –Value of shares issued ($ million) 1,219 – –The financial statements for the year ended 31 December 2011 do not reflect the dividend announced on 7 February 2012 and expected to be paid inMarch 2012; this will be treated as an appropriation of profit in the year ended 31 December 2012.20. Earnings per ordinary shareCents per share2011 2010 2009Basic earnings per share 135.93 (19.81) 88.49Diluted earnings per share 134.29 (19.81) 87.54Basic earnings per ordinary share amounts are calculated by dividing the profit or loss for the year attributable to ordinary shareholders by the weightedaverage number of ordinary shares outstanding during the year. The average number of shares outstanding excludes treasury shares and the shares heldby the Employee Share Ownership Plan Trusts (ESOPs) and includes certain shares that will be issuable in the future under employee share plans.For the diluted earnings per share calculation, the weighted average number of shares outstanding during the year is adjusted for the number ofshares that are potentially issuable in connection with employee share-based payment plans using the treasury stock method. If the inclusion of potentiallyissuable shares would decrease the loss per share, the potentially issuable shares are excluded from the diluted earnings per share calculation.$ million2011 2010 2009Profit (loss) attributable to BP shareholders 25,700 (3,719) 16,578Less: dividend requirements on preference shares 2 2 2Profit (loss) for the year attributable to BP ordinary shareholders 25,698 (3,721) 16,576Shares thousand2011 2010 2009Basic weighted average number of ordinary shares 18,904,812 18,785,912 18,732,459Potential dilutive effect of ordinary shares issuable under employee share schemes 231,388 211,895 203,23219,136,200 18,997,807 18,935,691The number of ordinary shares outstanding at 31 December 2011, excluding treasury shares and the shares held by the ESOPs, and including certainshares that will be issuable in the future under employee share plans was 18,977,213,826. Between 31 December 2011 and 17 February 2012, the latestpracticable date before the completion of these financial statements, there was a net increase of 379,374 in the number of ordinary shares outstandingas a result of share issues in relation to employee share plans. The number of potential ordinary shares issuable through the exercise of employeeshare plans was 254,106,576 at 31 December 2011. There has been a decrease of 53,225,107 in the number of potential ordinary shares between31 December 2011 and 17 February 2012.212 BP Annual Report and Form 20-F 2011