There’s a new kid on the yield stock block. Make room for BHP - if CEO Andrew Mackenzie can keep his promises, that is.
Paul Rickard has been following BHP and its increasing dividends for a while now. He reported that he was impressed with its interim result back in February:
- Underlying EBIT of US$9.2 billion, down 25.5%
- Capital expenditure of US$6.4 billion, down 23%
- Free cash flow of US$4.1 billion, up 21%
- Interim dividend up 5% to 62 US cents per share
- Net debt down by US$0.8 billion to US$24.9 billion, for a gearing ratio of 22.4%.
Six months ago, Paul pointed out its confidence in its dividend payment and this statement issued by the company - “we remain committed to at least maintain or steadily increase our base dividend in every reporting period”.