BHP boosts dividend as half-year profit jumps 25 per cent

Melbourne

GLOBAL miner BHP Billiton reported a 25 per cent rise in underlying half-year profit on Tuesday, helped by robust metals prices, and handed an extra US$800 million to shareholders as it forecast rising cash flows in the second half.

The payout echoes a similar move by rival Rio Tinto earlier this month as big miners recovering from the commodity crash two years ago look to cut debt and reward investors rather than spend.

Chief executive Andrew Mackenzie said the miner expected to boost free cash flow to around US$7 billion in the second half, up from US$5 billion in the f…