BP quarterly dividend will be suspended due to BP oil spill
BP quarterly dividend to shareholders will be suspended due to the oil spill in the Gulf of Mexico.
AP Photo/Charles Dharapak
The chairman of BP's board says that the oil company will suspend its quarterly dividend as part of its commitments to compensate victims of the Gulf oil spill.
Obama and key members of Congress in recent weeks have pressed BP to suspend the dividend payment and give assurances that the company will meet its commitments to Gulf coast residents and businesses economically harmed by the spill.