BPMP - BP: Good Move Increasing The Dividend More Please

• When announcing their results for the second quarter of 2021, BP also announced higher dividends with more expected in the future.
• Whilst this is undoubtedly a good move, sadly more is required since they are still keeping their unattractive share buyback policy.
• Although they have changed how they present this policy in their presentations, it does not alter the fact that they will increase in tandem with their share price.
• This erodes the value that could be created from potentially higher oil prices since they would be buying at highs, which goes against basic fundamental investing principles.
• Since I believe that this will continue capping their share price well into the future, I am maintaining my neutral rating despite their solid financial results for the second quarter of 2021.

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