Why does the BP share certificate refer to US$0.25 shares?
The BP group has always been a substantially US dollar-based business with significant US dollar assets and US dollar income. Accordingly, to reflect the nature of our business and help investors to assess our performance better, our accounts are prepared in US dollars. The face value or ‘nominal value’ of the share is also denominated in US dollars. However, the actual value of each BP share at any particular time is the price at which it can be sold in the market. On the London Stock Exchange, BP ordinary shares are traded in sterling, and dividends on those shares are paid in sterling.
