BHP: completes share buybacks; pays special dividend
(CercleFinance.com) - BHP has completed the buyback of around 5% of its shares off market, the global mining house said in a statement late on Monday.
The transaction of 5.2 billion dollars has enabled BHP Group to repurchase approximately 265.8 million shares at a discount of 14% to the market price, the company said.
With the completion of these buybacks, BHP has now returned 21 billion dollars in cash to shareholders over the last two years.
BHP also said that it would pay a special dividend of 1.02 dollar per share, which will be paid to all shareholders registered as of 11 January 2019.
The special dividend represents the residual proceeds from the sale of BHP's onshore US assets to BP that were not returned via the buyback program, it said.
At 9:30 am today BHP's share was down 0.5% at 1,651.6 pence, albeit outperforming the broader London market index, which was down 0.8%, with fears of global growth.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The transaction of 5.2 billion dollars has enabled BHP Group to repurchase approximately 265.8 million shares at a discount of 14% to the market price, the company said.
With the completion of these buybacks, BHP has now returned 21 billion dollars in cash to shareholders over the last two years.
BHP also said that it would pay a special dividend of 1.02 dollar per share, which will be paid to all shareholders registered as of 11 January 2019.
The special dividend represents the residual proceeds from the sale of BHP's onshore US assets to BP that were not returned via the buyback program, it said.
At 9:30 am today BHP's share was down 0.5% at 1,651.6 pence, albeit outperforming the broader London market index, which was down 0.8%, with fears of global growth.
Copyright (c) 2018 CercleFinance.com. All rights reserved.