Presentation slides and script (pdf, 2.6MB) | Investors - BP

Starting with an overview of the third-quarter financial results.Underlying replacement cost profit in the third quarter was $3.7 billion, down 26% onthe same period a year ago and 36% higher than the second quarter of 2013.Compared to a year ago, the result mainly reflected:– The impact of divestments in the Upstream offset by higher realisations;– Lower Downstream refining margins compared to the near-record levels seen ayear ago and the absence of earnings from the divested Texas City and Carsonrefineries;– And a lower contribution from our shareholding in Rosneft compared to that fromTNK-BP.Third-quarter operating cash flow was $6.3 billion.As Bob noted, in line with our commitment to a progressive and sustainable dividendpolicy, we have also announced an increase in the third quarter dividend of 5.6% to9.5 cents per ordinary share, payable in December. This reflects our confidence insustainable free cash flow growth, underpinned by the strong operational progresswe are now seeing and a continued focus on capital discipline. Moving forward, theBoard will review the dividend level with the first and third quarter results each year.Turning to the highlights at a segment level.7