BHP Billiton Lifts Dividend as it Swings to Annual Profit
August 21 2017 - 5:52PM
Dow Jones News
By Robb M. Stewart
MELBOURNE, Australia--BHP Billiton Ltd. (BHP.AU) will lift its
final dividend after a swing back to a full-year profit.
The Melbourne-based company also said it had determined its U.S.
onshore oil-and-gas operations were non-core and it was actively
pursuing options to exit the assets for value.
The company, the world's largest listed miner by market value,
recorded a net profit of US$5.89 billion in the 12 months through
June, against a year-earlier loss of US$6.39 billion after
absorbing an impairment hit on its onshore U.S. shale business and
a charge for the fatal 2015 dam failure at the Samarco iron-ore
operation in Brazil.
Underlying earnings before interest, tax, depreciation and
amortization--a measure tracked by analysts--rose 64% to US$20.3
billion. That was modestly below the US$20.37 billion median of 10
forecasts compiled by The Wall Street Journal
Revenue for the year climbed 24% to US$38.29 billion from
US$30.91 billion.
BHP's board declared a final dividend of US$0.43 a share for a
full-year payout of US$0.83, up on US$0.30 last year.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
August 21, 2017 18:37 ET (22:37 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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