BHP has announced a US$10.4 billion Shareholder Return Program, returning the net proceeds from the sale of its Onshore US assets to shareholders.
This return of capital will bring the total announced cash returns to shareholders over the past two years to US$21 billion. The capital return is done via
- off market buyback
- special dividend
The Shareholder Return Program will commence immediately with an off-market buy-back (Buy-Back) of US$5.2 billion of BHP Billiton Limited shares.
Tenders can be lodged at discount percentages of 10 per cent to 14 per cent inclusive to the Market Price or as a Final Price Tender.
BHP intends to pay the remaining US$5.2 billion in proceeds to all shareholders in the form of a special dividend to be determined once the reduced number of BHP Billiton Limited shares on issue
is confirmed following completion of the Buy-Back. This is expected to be paid in January 2019.
Further information is available here www.bhp.com/buyback2018