Asset Planning, Inc Blog
BP shares largely held by state pension systems across the US
Below is a an excerpt from a Marketwatch article that details the BP shares owned by state pension. BP is coming under political pressure to cut it's dividend even though the company has the financial means to keep paying it. The shortfall in funding of state pensions has been much publicized over the past few years. We can expect the states will fight back to preserve BP's dividend and share value.
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The New Jersey Division of Investment (51 million shares)
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The California Public Employees Retirement System (36 million shares)
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The Pennsylvania Public School Employees Retirement System (7.1 million shares)
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The Teachers Retirement System of Alabama (4.5 million shares)
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The Employees Retirement System of Texas (4.1 million shares)
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The Ohio Public Employees Retirement System (1.1 million shares)
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The Illinois State Board of Investment (1.1 million shares)
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The Indiana Public Employees' Retirement Fund (0.7 million shares)
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The Washington State Investment Board (1.2 million shares)
Of special note, the United Nations Joint Staff Pension Fund holds 21.9 million shares of BP.
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