Australia’s biggest miner affected by commodity price drop

Jessica Amir
August 18, 2020

Australia’s biggest miner and the third biggest company on the ASX, BHP (ASX:BHP), handed down its full year financial results, here’s what you need to know.

BHP (BHP) reported underlying attributable profit of US$9.06b, broadly in line with the prior year, just down 1%. This met the mark for Bell Potter and Citi’s expectation of US$9.06b, but was less than the $9.2b the market was expecting.

But it’s important to note, in the year 50% of BHP’s revenue came from Iron ore (US$20.8b).

BHP declared a total FY20 dividend of US$1.20 down 10%. That was slightly less than the US$1.23 expected. This includes the final dividend of US$0.55 per share, payable on 22 September.

BHP shares are up 58% from its COVID-19 bottom. BHP was maintained as a buy stock by Goldman Sachs and UBS.

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