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BHP Buy-Back - Announced 1 November 2018
- Details
- 21 November 2018
It was recently announced that BHP will return to Shareholders the US$10.4 billion received for the sale of some of its US assets. This will come in the form of a Off-Market buyback of its shares and a special dividend.
The Buy-Back tender period starts on 19 November and closes on 14th December. You will receive direct communication from BHP shortly.
Off-Market Buyback
The buyback will be made up of a capital return of $0.38c with the remainder, being the difference between the buyback price and the $0.38c, being the cash component of a fully franked share. The Buyback price will be an average price discounted by up to 14%.
The special dividend is somewhat of an unknown at this stage.
The benefit of the buy-back or subsequent Special Dividend depends upon your personal situation, as such we ask you to contact your broker or adviser if you are unsure of what to do.
We have a calculator that may be of assistance or we are available to discuss your options if this is more convenient. Please reply to partner@collinsco.com.au and we will get back to you as soon as possible.
