BHP to return $10.4bn to shareholders via buy-back, special dividend
BHP Group Limited NPV (DI)
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17:15 12/11/24
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-33.00p
BHP said it was returning $10.4bn to shareholders via a share buy back and special dividend using the proceeds from the sale of its US shale business.
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Mining
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The mining giant promised to return all of the net proceeds from the $10.8bn sale in July. BP bought most of the business in a deal completed this week.
BHP will target an off-market buy-back of $5.2bn starting on November 19 and closing on December 14. It added that it reserved the right to buy back its Australian BHP Billiton Limited shares at up to a 14% discount.