Gulf Residents Miffed By BP Resuming Dividends

NEW ORLEANS (AP) — BP's decision to resume paying dividends is rankling Gulf Coast residents who see it as another sign the company wants to move on even though many are still suffering from last year's massive oil spill.

Oil still stains marshes along Louisiana's fragile coast and tens of thousands of victims are waiting for final payments from a $20 billion compensation fund, while a large number of people haven't received any money at all.

The seven cents per ordinary share payable to BP shareholders March 28th, or about $1.25 billion overall, isn't a lot by BP's standards. But Gulf residents frowned on the idea Tuesday of going back to business as usual.

BP announced in June that it would not pay dividends to shareholders for the rest of 2010.