BHP profit tops estimates as copper powers growth, to pay highest dividend in 4 years
It announced a final dividend of 99 US cents per share.
BHP Group reported better-than-expected full-year earnings and declared its highest annual dividend in four years. The miner's profit rose 30% to US$13.20 billion for the year ended June 30, exceeding the consensus estimate of US$12.66 billion. CEO Brandon Craig highlighted BHP's project pipeline, aiming to boost copper production by up to 40% by 2035, as copper prices surged to record highs above US$14,000 per tonne.
Copper and related assets generated US$18.19 billion in operating earnings, surpassing iron ore's US$14.53 billion. Craig emphasized that copper was a foundational metal for the world's development and that BHP was prioritizing long-term growth, with capital spending expected to rise by over US$1 billion in 2027.
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