Higher commodity prices see large returns for BHP shareholders
It’s good news for BHP shareholders, with higher commodity prices helping to increase their returns by about 25%.
The more favourable conditions also helped reduce the company’s net debt from just over $20 billion to around $15.4 billion.
BHP’s Chief Financial Officer, Peter Beaven, joins Ross Greenwood.
“Underlying momentum is very much with us.
“If you combine that with good prices for commodities that we see today, net debt is more or less in line with where we want it to be.
“All those things are going to combine to continue to give us confidence to increase returns to shareholders.”
Mr Beaven also commented on the impact of the recent company tax cuts announced in the US.
“What we all need to know is taking a tax rate from 35% to 21%…clearly that’s going to have a material positive impact on the business going forward.”
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