- Australia’s largest mining company BHP (BHP) reports its best annual report in more than a decade and record dividends will be given to its shareholders
- The mining giants recorded a 34 per cent jump in profit to US$34.1 billion (A$48 billion), along with record underlying EBIDTA of US$40.6 billion at a record margin of 65 per cent
- BHP shareholders will be receiving final dividend of US$1.75 a share, bringing the full year dividends to US$3.25 per share
- BHP’s results is after a period of high global prices for many of the commodities including copper and coal
- BHP shares are up 4.09 per cent to trade at $40.51 per share at market close
Australia’s largest mining company BHP (BHP) has reported its best annual report in more than a decade and record dividends will be given to its shareholders.
After a year of booming prices for many of BHP’s commodities, the mining giants recorded a 34 per cent jump in profit to US$34.1 billion (A$48 billion), along with record underlying EBIDTA of US$40.6 billion at a record margin of 65 per cent.
The company saw its underlying profit up 39 per cent to US$23.8 billion.
BHP shareholders will be receiving final dividend of US$1.75 a share, bringing the full year dividends to US$3.25 per share.
BHP’s results was after a period of high global prices for many of the commodities including copper and coal.
Iron ore prices throughout the past financial year averaged between US$110 and US$140 a tonne, but have since fallen to as low as US$100 a tonne as COVID-19 restrictions soften steel demand in China.
“These strong results were due to safe and reliable operations, project delivery and capital discipline, which allowed us to capture the value of strong commodity prices. BHP remains the lowest cost iron ore producer globally and we delivered record annual sales from Western Australia Iron Ore,” CEO Mike Henry said.
“BHP enters the 2023 financial year in great shape strategically, operationally and financially, and well prepared to manage an uncertain near-term environment.”
BHP shares were up 4.09 per cent to trade at $40.51 per share at market close.