BHP (ASX:BHP) see a rise in profit, increase dividend

Company News

by Rachael Jones

BHP (ASX:BHP) has reported a 29 per cent increase in half-year profit to $US4.9 billion, that’s $7.30 billion Australian.

The result includes a one-off loss of $US318 million due to cancelling power contracts as it shifts towards 100 per cent renewable energy at its Escondida and Spence copper operations in Chile and provisions relating to the 2015 Samarco dam disaster.

The miner's underlying profit rose 39 per cent to $US5.2 billion, up from $US3.7 billion a year earlier.

New chief executive Mike Henry says the coronavirus outbreak, trade policy and geopolitics are key uncertainties.

They will pay an interim dividend of 65 US cents per share, up from US55 cents on the previous corresponding period.

Shares in BHP (ASX:BHP) are trading 0.1 per cent higher at $38.49.


Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.