April 03, 2013 at 09:16 AM EDT
BP to Sell Wind Farm Business (BP)

Oil and gas company, BP plc (BP) reported on Wednesday that it has put its U.S. wind farm business up for sale.

This sale will follow a series of asset sales which have totaled $38 billion. The company has been raising funds to help pay for liabilities related to the 2010 oil spill. BP has been re-positioning itself as a smaller company which focuses on high margin oil production and exploration.

Although BP did not put a price on its operations, the company expects to be presented with “attractive offers.” The sale will include 16 operating wind farms as well as a portfolio of existing projects.

BP shares were mostly flat during premarket trading Wednesday. The stock has declined -6% in the past year.

The Bottom Line
Shares of BP plc (BP) have a 5.13% yield, based on Tuesday’s closing price of $42.14.

BP plc (BP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here