Soaring global commodity prices have made BP a "Cash Machine", CEO BP plc. the energy giant left its dividend unchanged but said it would buy back an additional $1.2bn of shares as the group continued its efforts to win back investors after the share price dropped last year to a 25-year low. BP boosts highbacks as oil and gas prices create a "cash machine." FT.com, 2/11/2021

in the light of the above statement, critically evaluate the dividend policy of BP plc.

1. First discuss which dividend policy BP use

2. Talk about why they did not pay dividends and why the dividend growth rate did not change

3. Then talk about the implication of not paying the dividend

Then bring competitors like Exxon Mobil and Chevron as a real-life case to explain the implications of BP dividend policy change with competitors

4 Talk about the share repurchase the company did

5. Talk about what it means and the reason why it will affect the company situation (Add graphs)

6. 900 - 1000 word count including executive summary