ceo bernard looney spoke to cnbc >> that is correct that is what we are doing.hat we said we will do this year is return 60% of our surplus cash to shareholders through buybacks that's what we did today by announcing a $1.5 billion buyback program for the second quarter. additionally, because of the confidence that the board has in the performance of the company, the outlook for the company and importantly, the reduced share count, we also announced we would increase our dividend by 10%. that's our dividend over 30% now from just a few years ago. it is a very, very strong distribution story this morning. $1.5 billion buyback at the same time, a 10% increase in our dividend. we bought back roughly 15% now of the company shares in the last 18 to 24 months this is a strong story of returning distributions to the shareholders and while we continue to invest and growing in the company >> we will be digging deeper into the bp numbers later this hour when we speak to pauk sankey with sankek research. back to earnings hsbc the bank hiked guidance and now forecasting net

we welcome in bernard looney to the show >> thank you, andrew >> a different picture the last time we spoke. we were talking about windwfall tax at the time. the world switches fast. it is interesting to see the change in prices and what it means to profits and how you balance it on the dividend and repurchase side. >> it was a good quarter, andrew we grew 3% overall we drove production costs down by 9%. we grew other parts of the business as well w we tripled our power into the ev charging network and convenience business at 7%. a lot of growth and resulted in the announcement you have seen today with the confidence of $11.5 billion buyback which is good following 60% of cash to buybacks also over the last four quarters, andrew, we bought back 9% of the company shares we announced a 10% dividend rise as you said. it is about confidence and the business is forperforming well. >> bernard, you increased the dividend by 10%, but paying out the same amount which is good to control the capital? >> that's right, becky hi to you. we bought back 50% of shares since we started the program 21 m