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BHP Billiton cuts dividend, posts US$5.67b interim loss

Wednesday, February 24, 2016 - 05:50

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Mr Mackenzie: "The financial flexibility we will gain as a company from this move . . . will allow us to invest counter cyclically. It will allow us to look at tier one assets in distress."

Sydney

TOP global miner BHP Billiton slashed its interim dividend by 75 per cent on Tuesday, abandoning a long-held policy of steady or higher payouts as it braces for a longer-than-expected commodities downturn.

The end to BHP's so-called progressive dividend policy came as the

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