US senators urge BP to suspend shareholder dividends

BP should suspend any plans to pay out shareholder dividends until the full costs for cleaning up the massive oil spill are calculated, U.S. Senators said.

US senators urge BP to suspend shareholder dividends

BP should suspend any plans to pay out shareholder dividends until the full costs for cleaning up the massive Gulf of Mexico oil spill are calculated, U.S. Senators Charles Schumer and Ron Wyden said on Wednesday.

"We find it unfathomable that BP would pay out a dividend to shareholders before the total cost of BP's oil spill clean-up is estimated," the senators wrote in a letter to BP CEO Tony Hayward.

Both senators are Democrats and Schumer is a member of the Senate Democratic leadership team.

"We will hold BP and other responsible parties accountable," Carol Browner, President Barack Obama's top energy adviser, said in a statement.

"And where government officials have been too cozy with the oil industry -- a problem that goes back a decade -- we will clean house," she said.

Reuters

Last Mod: 02 Haziran 2010, 20:36
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