BP to return $8 billion cash to shareholders

摘要

London-BP has announced a $8 billion share buyback program-considerably bigger than had been expected-following through on a promise to reverse the dilutive effect on its earnings from the sale of its stake in for- mer Russian venture TNK-BP. BP took the final step to putting its trou- bled Russian venture behind it on March 21, closing a $26.5 billion deal to sell its 50% stake in TNK-BP to Russia's Rosneft for cash and shares (ON 3/22).