BHP Billiton has slashed its shareholder dividend and abandoned its progressive payout policy after a collapse in commodity prices forced it into a $US5.67 billion ($A7.84 billion) half year loss. The move had been expected after the resources giant was forced to take a $US7.2 billion writedown against its US oil and gas assets in December and as rivals Rio Tinto, Glencore and Vale all slashed their own payouts in recent weeks. BHP cut interim dividend to 16 US cents per share, from 62 US cents a year ago, and like rival Rio Tinto, said it was dropping its long-standing policy of holding or increasing dividends at every result.
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