BHP Group Limited (NYSE:BHP) to Issue Dividend Increase – $1.47 Per Share

BHP Group Limited (NYSE:BHP) announced a Semi-Annual dividend on Tuesday, August 27th, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 1.465 per share by the mining company on Thursday, October 3rd. This represents a yield of 5.2%. The ex-dividend date is Friday, September 13th. This is an increase from BHP Group’s previous Semi-Annual dividend of $1.44.

BHP Group has a payout ratio of 58.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BHP Group to earn $5.12 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 57.8%.

BHP Group Price Performance

BHP opened at $52.80 on Thursday. The firm’s fifty day moving average price is $54.88 and its two-hundred day moving average price is $56.82. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. BHP Group has a 1 year low of $50.90 and a 1 year high of $69.11.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Citigroup began coverage on shares of BHP Group in a research report on Friday, May 31st. They issued a “buy” rating for the company. Barclays reaffirmed an “equal weight” rating on shares of BHP Group in a report on Thursday, May 30th. Finally, StockNews.com raised BHP Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, silver, zinc, molybdenum, uranium, gold, iron ore, and metallurgical and energy coal.