BHP Billiton to pay record high dividend at $0.63 per share
The Melbourne-headquartered mining firm, BHP Billiton, has announced the 42% rise of its full-year dividend.
The company will pay AU$0.86 (US$0.63) per share, the highest amount the company has ever paid.
The pay-out will total AU$1.77bn (US$1.3bn), with the company promising to return financing to shareholders that was raised through asset sales.
The firm reported a 20% rise in total revenue in the year ending June, reaching AU$59.35bn (US$43.6bn), as well as its pre-tax profits jumping by a third to AU$20.15bn (US$14.8bn).
“We have announced a record final dividend for shareholders which reflects strong operating performance, solid prices and capital discipline,” stated Andrew Mackenzie, CEO of BHP Billiton.
“Our relentless focus on safety and productivity has released additional volumes across our supply chain, with eight per cent volume growth for the year.”
“Our balance sheet is strong, with net debt now at the lower end of our target range, and our investment plans on track across iron ore, copper, coal and petroleum.”
“We have started the new year with the sale of our Onshore US business for US$10.8 billion, and once completed we expect to return the net proceeds to shareholders.”
“Across our dramatically simplified portfolio of tier one assets, we see this year’s strong momentum carried into the medium term as our leadership, technology and culture drive further increases in productivity, value and returns.”
“Our rich suite of options coupled with our rigorous Capital Allocation Framework will make sure we get the most out of every dollar we invest.”