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  5. Dividend payment options

Dividend payment options

Choose to receive cash dividends or participate in dividend reinvestment (DRIP) to receive additional BP shares. 

BP declares the dividend in US dollars. BP ordinary shareholders will receive the dividend in sterling and the amount they receive each quarter may vary as a result of changing foreign exchange rates. The exchange rate used to determine the sterling cash dividend is the average of the market rates over the 4 dealing days prior to the sterling cash dividend announcement date. ADS holders will receive their dividend in US dollars.

 

You can choose to receive cash dividends or participate in dividend reinvestment (DRIP) to receive additional BP shares. For further information please follow the links below: 

 

For ordinary shareholders: www.mybpshares.com
For ADS holders : www.adr.com/bp

 

Cash

It is strongly recommended that dividends are paid directly to your bank, building society or saving account. This avoids the risk of cheques being lost in the post, and means your dividend will be in your account on the dividend payment date.

 

Ordinary shareholders and preference shareholders

In keeping with BP’s strategy to promote efficient and modern methods of engagement with its shareholders, BP has made the decision that in 2020 it will stop paying cash dividends by cheque and all future cash dividends will be credited to a shareholder’s nominated UK bank/building society account on dividend payment date. Find out more here.

 

The easiest, quickest and most secure way to provide your bank details is to register an account on the BP Share Centre and provide your bank details online. Alternatively please use a dividend mandate form or telephone the BP Registrar, Link Asset Services.

 

- Mandate form

 

If you are an overseas ordinary shareholder, you may be able to use the International Payment Service (IPS) and receive dividend payments direct to your bank account in your local currency.

 

Further information regarding the IPS including terms and conditions, costs and forms for signing up are available from Link Asset Services.

 

ADS holders

The easiest, quickest and most secure way to provide your bank details is to register for an adr.com account and provide your bank account details online. Alternatively please contact JPMorgan Chase to request a direct deposit dividend form.