Looking to buy BHP shares? Here’s what’s coming up for the miner in September
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Investors who hold shares in BHP Group Ltd (ASX: BHP) can expect some exciting developments in September. The Australian stock exchange miner is preparing to distribute a significant amount of funds to its shareholders.
The company has just released its financial performance for the fiscal year 2023, along with the declaration of the final dividend for FY23.
In the financial year 2023, BHP announced that their revenue dropped by 17% to reach US$53.8 billion. During this time, the underlying earnings before interest, tax, depreciation, and amortization (EBITDA) experienced a decline of 31% to US$28 billion, profit from operations fell by 33% to US$22.9 billion, and the attributable profit plummeted by 58% to US$12.9 billion.
The abysmal performance of financial figures resulted in a significant decrease of approximately 44% in the full-year dividend, amounting to US$1.70 per share, with complete tax credits. The annual dividend payout ratio stood at 64%. Consequently, shareholders can expect to receive roughly two-thirds of the profit from FY23 once the final dividend payment for FY23 is processed. Undoubtedly, this could serve as one of the noteworthy events this month.
BHP's stocks will enter the ex-dividend phase on 7 September 2023. In order to qualify for the dividend, investors must possess a portion of the company's shares by the close of trading on 6 September 2023. The dividend amount is set at 80 cents per share and will be disbursed on 28 September 2023, sparing shareholders from a lengthy wait.
The mining company listed on the Australian Securities Exchange will announce a forecast on September 11, 2023 regarding the anticipated payment in Australian currency.
Investors have the opportunity to choose whether they want to participate in the firm's dividend re-investment plan (DRP) and receive fresh shares instead of money until 11 September 2023.
What's Next In September?
The upcoming significant occasion for the organization is the ending of its first quarter for the fiscal year 2024, encompassing the period of three months until September 2023. We will not receive updates regarding the company's performance until it unveils the operational earnings for that quarter on 18 October 2023.
I would propose that any progress or updates concerning the economy of China might also have significant ramifications for the shares of BHP. This is due to a considerable part of its manufacturing (like iron ore) being purchased by customers from China.
We've been receiving information for quite a while now that the Chinese economy hasn't experienced a robust recovery following the COVID-19 lockdowns, and the property and construction industries are encountering significant difficulties.
According to a recent article in the Australian Financial Review, the Chinese real estate market is currently experiencing a significant decline. Any improvements or deteriorations in this market could have a substantial impact on the BHP share price both in September and in the long run.
According to the graph provided, the BHP stock has experienced a significant increase of 18% over the previous year, in comparison to the 6% rise of the S&P/ASX 200 Index (ASX: XJO).
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