BHP Completes US$5.2 Billion Buy-Back

BHP (ASX:BHP,NYSE:BHP,LSE:BLT) has successfully completed its off-market tender buy-back (off-market buy-back) of BHP Group Limited shares.

The company said that the final transaction size of A$7.3 billion (US$5.2 billion) has enabled BHP Group Limited to buy back approximately 265.8 million BHP Group Limited shares, which represents 8.3 per cent of the issued share capital of BHP Group Limited and 5.0 per cent of the total issued capital of BHP Group Limited and BHP Group Plc.

As quoted in the press release:

The final price for the Off-Market Buy-Back has been set at A$27.64 per share. This is a discount of 14 per cent to the Market Price of A$32.1387 per share.

In addition, the board of BHP has determined to pay a special dividend of US$1.02 per share, which will be paid to all BHP shareholders with an entitled registered holding as of Friday 11 January 2019. The special dividend represents the residual US$5.2 billion of net proceeds from the sale of its onshore US assets not returned via the off-market buy-back, based on the reduced number of shares on issue of approximately 5,058 million following completion of the off-market buy-back.

Click here to read the full BHP (ASX:BHP,NYSE:BHP,LSE:BLT) press release.