BP will not pay dividend - WLOX.com - The News for South Mississippi

BP will not pay dividend

WASHINGTON, DC (WLOX) - BP chairman Carl-Henric Svanberg spoke to reporters outside the White House on Wednesday afternoon, following the meeting with President Barack Obama.

Svanberg announced the company will not pay dividend because of oil spill. He also apologized to the American people for damage oil spill caused in Gulf Coast.

He continued apologizing to the American people for Gulf of Mexico oil spill.

In President Obama's speech he announced that BP will create a $100 million compensation fund for oil industry workers left jobless, and they will set aside $20 Billion to pay damage claims arising from Gulf oil spill.

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