Senators urge BP to suspend shareholder dividends

WASHINGTON Wed Jun 2, 2010 11:00pm IST

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WASHINGTON (Reuters) - BP should suspend any plans to pay out shareholder dividends until the full costs for cleaning up the massive Gulf of Mexico oil spill are calculated, U.S. Senators Charles Schumer and Ron Wyden said on Wednesday.

"We find it unfathomable that BP would pay out a dividend to shareholders before the total cost of BP's oil spill clean-up is estimated," the senators wrote in a letter to BP CEO Tony Hayward.

Both senators are Democrats and Schumer is a member of the Senate Democratic leadership team.

(Reporting by Richard Cowan, Editing by Sandra Maler)

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