BHP Billiton Lifts Dividend as it Swings to Annual Profit

   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 [e-mail]

(END) Dow Jones Newswires

August 21, 2017 18:37 ET (22:37 GMT)

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