BHP Says Won't Risk Balance Sheet as Dividends Questioned
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BHP Billiton Ltd., which paid out $6.6 billion in dividends last fiscal year, said it won’t risk its balance sheet as investors question its policy of progressive payouts amid steep falls in its stock and commodity prices.
“Our starting point is to maintain the strength of the balance sheet through the cycle,” Chairman Jac Nasser told investors Thursday at an annual meeting in Perth, addressing questions about the world’s biggest miner’s current policy to maintain or increase its dividend payments each year. “The balance sheet must always come first.”