BHP (ASX:BHP,NYSE:BHP,LSE:BLT) has released its results for the year ended 30 June 2018,

As reported in the press release, BHP recorded attributable profit of US$3,795 million, down 37 percent year-on-year, but balanced that with a fall in debt, an increase in cash flow, a rise in exploration expenditure and a 42 percent increase in dividends for shareholders.

CEO of BHP, Andrew Mackenzie said:

“We have announced a record final dividend for shareholders which reflects strong operating performance, solid prices and capital discipline.

We have started the new year with the sale of our Onshore US business for US$10.8 billion, and once completed we expect to return the net proceeds to shareholders.

Across our dramatically simplified portfolio of tier one assets, we see this year’s strong momentum carried into the medium term as our leadership, technology and culture drive further increases in productivity, value and returns.

Our rich suite of options coupled with our rigorous Capital Allocation Framework will make sure we get the most out of every dollar we invest.”

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