BHP Billiton has boosted payout to shareholders by $US1 billion more than it need under its current policy after boosting net profit to $US5.89 billion in the year to June from a loss of $US6.385 billion the year before.
Including one offs items such as write-downs and impairments earnings leapt to $US11.753 billion from a loss of $US6.235 billion
The company said this morning that total dividends for the year would be 83 US cents a share, more than double the 30 US cents paid for 215-16.
Directors said the $US4.4 billion in total to be paid to shareholders was $US1 billion more than the 50% minimum payout policy the company adopted in 2015-16 (after abandoning its previous progressive divided policy).
Revenue rose 24% to $US38.285 billion and underlying earnings before interest, tax, depreciation and amortisation was $US20.3 billion, indicating a gross profit margin of 55% and up 64%.
CEO Andrew Mckenzie said the company would maintain this solid momentum into 2018 thanks an expected 7% rise in volumes and further productivity gains.
