BHP (ASX:BHP) has reduced its final dividend to 74 US cents per share from the previous year’s final dividend of 80 US cents, following a slight increase in operating profit for the year ending June.
This brings the total annual dividends to $US1.46 per share, a significant decrease from the $US1.70 per share paid the year before.
BHP Group reported a 2% rise in its annual underlying profit on Tuesday, as stronger iron ore and copper operations offset weaker coal prices.
Underlying attributable profit for the year ended June 30 reached $US13.66 billion, exceeding market expectations of around $US13.26 billion and the previous year’s profit of $US13.42 billion.
The world’s largest listed miner attributed its profit growth to a second consecutive year of record iron ore output and consistent average realised prices for this essential steelmaking commodity. Iron ore prices averaged $US101.60 per tonne, as previously disclosed in the company’s production and sales report in July.