BHP: 10.4 billion dollar shareholder return program
(CercleFinance.com) - The BHP stock is up 2.
8% in London today, after the Anglo-Australian mining company announced its intention to redistribute 10.4 billion dollars to its shareholders, in the form of share buybacks and a special dividend.
The program, which is beginning immediately, is for the off-market repurchase of 5.2 billion dollars' worth of BHP Billiton Limited shares, with the special dividend, for an equivalent amount, to be paid in January 2019.
This massive redistribution will be financed by the proceeds from the divestment, whose completion has been announced at the same time, of interest in onshore assets in the US to the oil and gas company BP.
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