BHP announced a final dividend of US$0.80 per share (US$4.1 bn), equivalent to a 59% payout ratio and inclusive of an additional amount of US$0.64 bn above the minimum 50% payout policy. This brings total cash dividends announced for FY23 to US$1.70 per share, including an additional amount of US$1.9 bn above the minimum payout policy, and making this the third largest full year ordinary dividend declared by the firm.
Other financial highlights include:
Earnings and Margins:
- Revenue: US$53.8 bn, down 17% from FY22, US$65.1 bn
- Attributable profit from total operations: US$12.9 bn, down 58% from FY22, US$30.9 bn
- Profit from operations: US$22.9 bn, down 33% from FY22, US$34.1 bn
- Underlying EBITDA: US$28.0 bn, down 31% from FY22, US$40.6bn
- Underlying EBITDA margin: 54%, down from FY22, 65%
Cash Flows and Balance Sheet
- Net operating cash flow: US$18.7bn, down 36% from FY22, US$29.3 bn
- Capital and exploration expenditure: US$7.1 bn, up 16% from FY22, US$6.1bn
- Free Cash Flow: US$5.6 bn, down 77% from FY22, US$24.3bn
- Net Debt: US$11.2 bn, up from FY22, US$0.3 bn.
- Gearing ratio: 18.7%, up from 0.7% in FY22.
Value and Returns
- Full year dividend of US$1.70 per share.
- Underlying return on capital employed (ROCE): 28.8%, down from 48.1% in FY22.
