For any income-focused investor moving from initial interest to active consideration of adding a stock to their portfolio, it is advisable to interrogate the extent to which the company’s strategy is supported by a durable and mathematically sound shareholder return framework.

Will they secure the dividend and fund buybacks?

An analysis for income-focused investors

For any major integrated energy company, the central challenge is clear: deliver competitive shareholder returns today while navigating the complexities of the global energy transition. bp has announced a "fundamental update" of its strategy—a decisive answer to this challenge that reflects decades of leadership experience and the imperative to deliver strong performance for shareholders.

Here’s the scorecard to watch

Hybrid Air Vehicles (HAV) has secured its first military aircraft reservation, with an undisclosed defence contractor reserving three Airlander 10 aircraft. This marks the first breakthrough into HAV’s $3.7bn military pipeline, adding to existing civil reservations worth $2bn. Defence technology is rapidly evolving and the Airlander 10 presents operators with options for persistent surveillance (five-day endurance), elevated sensing (three-tonne payload) and drone warfare capabilities. With first deliveries targeted for 2029, military reservations should strengthen HAV’s position for raising the c £310m required for production and the type certification programme.