BHP Group Limited (LSE:BHP) announced a better-than-expected interim dividend and underlying earnings helped by higher sales prices across its major commodities and a strong operational performance.
Underlying profits (EBITDA) jumped 33% to US$18.5bn (£13.7bn) for the six months to end December 2021 as revenue grew 27% to US$30.5bn.
It will pay a record interim dividend of US$1.50 per share with UK shareholders still eligible for the payment after the mining giant switched its domicile last month to Australia and ‘unified’ shareholdings into the Aussie business.
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Consensus forecasts were for revenues of US$29.8bn, EBITDA of US$18.3bn and a dividend of US$1.24.
“We mitigated the impacts of COVID-19 and significant adverse weather events to turn in a solid operational performance, particularly from our flagship Western Australian Iron Ore business,” said chief executive Mike Henry.
“We have announced an interim dividend of US$1.50 per share, bringing total shareholder returns to more than US$22 billion over the past 18 months.”
BHP said it remained positive about long-term global economic growth and commodity demand, although it warned about volatility in the near term and industry wide inflationary pressure.