BHP 1:8 bonus

Press, 23 March 1985, Page 24

BHP 1:8 bonus

NZPA Melbourne The Broken Hill Proprietary Company, Ltd, reports a 20 per cent increase in its profit for the quarter ended February 28, compared with the corresponding quarter of the previous financial year. BHP’s unaudited attributable net consolidated operation profit for the period was sAustl92.3M ($159.7M). The directors also announced a one-for-eight bonus issue, eligible for the interim dividend of 15c (12.5 c payable on May 29.

Directors said BHP lifted its net attributable profit for the nine months to February 28 by 20.8 per cent to sAusts33.BM from $441.9M in the previous

corresponding period. Sales were $4981.8M ($3782.8M). Other statistics for the quarter were: Turnover, $1519.3M (51223.8 M other income, $36.5M (F23.5M); tax, 5131.6 M ($152.0M); minorities, $2.3M ($5.nM). interest, $77.6M(515.0M); depreciation, $117.4M (s9t'.9Mi: extraordinary items, nil. Directors said divisional profits for the quarter before minorities and extraordineries were: Petroleum $117.3M 0?i07.1M); Utah $35.7M (no comparative figure); minerals, SIOM, ($32.1M); steel, $32.9M ($26.7M); Lysaght, $7.3M ($8.1M); Corporate and Investments, SB.6M loss (SB.7M loss).

The directors said the bonus issue marked the company’s centenary year and results from the over-all improved performance. They expected the 15 cent dividend rate to be at least maintained on the increased capital. The rapid decline in the value of the Australian currency towards the end of the quarter had little effect on the quarterly divisional trading results, ’directors said. The currency exposure of the group changed markedly during the year Dividend payout for the 1985 year will amount to about $262M, a 77 per cent increase on the 1984 pay-out of SI4BM.