Oil giant BP could have to cut its dividend again, analysts warn.
BP halved its dividend in August after a record $6.7 billion loss for the three months to June.
On Tuesday, it is expected to report an underlying loss of $120million for the quarter to September. It had a $2.3billion profit for the same period last year.
In the red: BP is expected to report an underlying loss of $120million for the quarter to September
Russ Mould, investment director at AJ Bell, said BP’s plunging share price ‘reflects investors’ scepticism that its dividend is sustainable longterm without a considerable recovery in the oil price’.
Susannah Streeter, from Hargreaves Lansdown, questioned ‘whether BP will continue to be able to afford to pay the current dividend’.
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