No BP Investor Payouts Until Spill Tab Is Known: Sens.

Law360, New York (June 3, 2010, 12:25 PM EDT) -- Sens. Chuck Schumer, D-N.Y., and Ron Wyden, D-Ore., are calling on BP PLC to scrap plans to pay out dividends to shareholders until the full cost of cleaning up the massive, ongoing Gulf of Mexico oil spill can be assessed.

Schumer and Wyden sent a letter Wednesday to BP CEO Tony Hayward saying that reports that BP would proceed to pay out first-quarter dividends on its stock were “unfathomable,” with the oil giant still on the hook for cleanup costs that could eventually run as high...
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