BP profits soar to record of $28 billion, dividend increased

LONDON (Reuters) - BP reported on Tuesday a record profit of $27.6 billion in 2022 which was lifted by a surge in energy prices since Russia's invasion of Ukraine as the company also boosted its dividend by 10%.

BP's fourth-quarter underlying replacement cost profit, the company's definition of net income, reached $4.8 billion, compared with forecasts of a $5 billion profit in a company-provided survey of analysts.

That compared with $4 billion a year earlier and $8.2 billion in the third quarter of 2022.

(Reporting by Ron Bousso and Shadia Nasralla; Editing by Andrew Heavens)