digging, planting, & pruning in the backyard of the stock market & personal finance
Another dividend hike announced recently is Imperial Oil -- quarterly dividend was increased by 10% (from $0.10 to $0.11).
I agree that BP's oil spill troubles are overblown out of proportion. The Obama administration is looking for someone to punish, and try to improve their populist ratings. Meanwhile millions of retirees depending on their BP dividends are about to get axed. Who will pay them restitutions for possible losses of dividend income? I do own BP shares, and the positiion is less than 0.50% of my portfolio so I won't be affected badly. But I guess when you have the strong hand of the government against your company, there's nothing really you could do about it.. That's why the best thing to do is to diversify.
Dividend Growth Investor- Lets separate out how Mr. Market is treating the stock from the responsibility of BP and The gov't response. BP/transocean/halliburton bear responsibility. They all took a risk knowing if there was a blowout a mile below the surface that it would be difficult to stop. BP is not a model corporate citizen. Why is it that when a company kills or injures people/ the environment some investors such as yourself wring your hands and say "it not fair to make them pay for their wrong doing" and God forbid they are held to pay punitive damages- which are specificaly designed to prevent such irresponsible behavior. Then you and others play the widows and orphans card "millions of retirees depending on their BP dividends are about to get axed. Then you ask who will pay them restitution. I don't get it -we all take risks as investors - If a company made an unwise decision then yes the shareholders suffer, If they make wise decisions then shareholders are rewarded. Isn't that what capitalism is supposed to be about?
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