In summary, BHP posted a solid result with both NPAT and EBIT beating consensus. With the final dividend coming in at US14cps, FY16 total dividends of US30cps, the total dividends for the year are below expectations. In FY17 we remain hopeful we’ve seen the bottom of the cycle for BHP earnings.
If you don’t review the graph of iron ore very often, you may appreciate the images below.
12 month close $56