BP raises dividend as profits surge

BP has raised its dividend to shareholders by 14 per cent for the first time since the Gulf of Mexico spill.

Profits for the quarter to the end of December 2011 was $7.6bn (£4.8bn).

That compares with $4.6bn for the same period the previous year.

BP's profits fort the whole of 2011 were $23.9bn compared with a $4.9bn loss in 2010.

BP's dividend was raised to 8 cents per share,