BHP offers lowest dividend in 8 years as miner posts $8bn half-year profit

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Australia’s largest miner will pay shareholders their lowest interim dividend in eight years. Inflationary pressures were a central theme in BHP’s half-year results, posted on Tuesday. BHP recorded a $US5.1bn ($A8bn) underlying profit for the first half of this financial year – down 23 per cent. Weak iron ore prices and steelmaking coal prices hurt the multi-continental miner, but “productivity initiatives and cost discipline” – plus favourable foreign exchange changes – allowed the company to mitigate the global 3.7 per cent inflation rate. Camera Icon Union members protested outside the BHP annual general meeting in Brisbane in October. NewsWire Credit:...