BHP Billiton Plans US$10.4 Billion Capital Return
31 Octubre 2018 - 4:11PM
Noticias Dow Jones
By David Winning
SYDNEY--BHP Billiton Ltd. (BHP.AU), the world's biggest mining
company by market value, said it would return US$10.4 billion to
shareholders via a stock buyback and special dividend after
completing the sale of its U.S. onshore oil and natural gas
assets.
BHP, which has faced pressure from activist investor Elliott
Management Corp. to improve returns, said the move would bring the
total cash handed back to shareholders over the past two years to
US$21 billion.
The Melbourne-based company said it planned to buy back shares
worth US$5.2 billion and pay a special dividend to shareholders
totaling US$5.2 billion. It said the capital-management program
would begin immediately.
On Wednesday, BHP completed the sale of the bulk of its U.S. oil
and gas unit to BP PLC (BP), ending a costly saga that left the
company roughly US$20 billion worse off.
Write to David Winning at david.winning@wsj.com
(END) Dow Jones Newswires
October 31, 2018 17:56 ET (21:56 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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