Since the oil spill issue has cropped up on the forefronts, the oil major BP has decided to defer dividend payments to its shareholders.

According to the Reports, the oil major has decided to put off its next dividend payment to its shareholders by keeping the money in escrow account till the time the company estimates the total money for the damage caused due to the oil spill in the Gulf of Mexico waters. The company has decided to hold on for the dividend till the estimates are confirmed out of the Gulf of Mexico havoc.

However, the spokesperson from BP confirmed that the company may sacrifice the payment of next dividend this time due to the issue.

Earlier it was reported that the BP board members were talking about the payout of dividend amounting £1.7bn for the second-quarter payout, which was expected to be due on July 27, should be delayed till the time the company makes a hold on the crisis to bring the same under control.

However the decision is taken in the lieu of making an attempt towards bringing relief on the mounting pressure upon company via some of the political pressure, to the Britain's biggest oil company.

It is also considered that the further quarterly payments may also be sent through the same route to handle situation, until the company comes out of the situation.

In an interview BP chief executive Tony Hayward said that the company is considering all options for the dividend. But the decisions are still in the loop.