Original article by Matt Chambers
The Australian – Page: 27 : 2-Nov-18
BHP Billiton has advised that it will distribute $US5.2bn of the proceeds from the sale of its US shale assets to shareholders via a special dividend. Another $5.2bn has been earmarked for an off-market buyback of its Australian-listed shares. Macquarie says BHP will return cash to investors faster than the firm had expected; it had anticipated that BHP would complete an off-market buyback of its Australian shares and an on-market buyback of its London-listed shares by mid-2019. BHP shares rose 2.79 per cent to $33.11 on 1 November.
BHP BILLITON LIMITED – ASX BHP, MACQUARIE GROUP LIMITED – ASX MQG, RIO TINTO LIMITED – ASX RIO