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BHP’s mining operation in Arizona. The Australian miner cut its payouts by US$6.9 billion, due to sharply falling profits as a result of lower commodity prices. Dividend cuts in the oil and mining sectors dragged down global payouts in the third quarter as companies contend with swinging commodity prices . According to Janus Henderson Group PLC’s global dividend index, dividends overall experienced a minor decline, falling 0.9 per cent globally on a headline basis. However, on an underlying basis — taking into account factors such as currency movements and special dividends — payouts rose by 0.3 per cent. Article content Article content Nine companies out of 10 raised or held payouts steady. Two outsized dividend cuts depressed the overall rate of underlying growth, which would otherwise have hit 5.3 per cent. Brazilian oil producer Petróleo Brasileiro SA paid US$9.6 billion less year on year, the biggest dividend cut in the world for the second quarter in a row. Australian miner BHP Group Ltd. cut its payouts by US$6.9 billion, due to sharply falling profits as a result of lower commodity prices. BHP was the world’s largest dividend payer in 2021 and 2022. Other Australian mining companies, including Rio Tinto […]
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