On August 19, BHP Billiton rose 3.85% in regular trading, trading at $92.49/share, with turnover of $15.54 million. The rally follows the company's release of fiscal 2026 full-year results that exceeded market expectations across multiple metrics.
BHP reported underlying basic earnings per share of $5.20, beating the analyst consensus estimate of $5.08 by 2.36%, representing a 30% year-over-year increase from $4.00. Full-year revenue came in at $58.76 billion, surpassing the $57.99 billion estimate. The board declared a final dividend of $0.99 per share, bringing the full-year payout ratio to 66% — the highest level since fiscal 2022 and approximately 10% above market expectations. RBC Capital Markets subsequently raised its assumed dividend payout ratio for BHP from 50% to 60%.
Notably, copper contributed 54% to group EBITDA, with copper revenue surpassing iron ore for the first time, driven by copper prices reaching historic highs. BHP is now targeting a self-funded 40% copper production increase over the next decade with approximately $12 billion in cumulative free cash flow from copper during fiscal 2027 to 2031.
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