Dividends spanning the entire March-April payment period are on track to hit $36.3 billion this year, almost exactly in-line with 2022.
The volatility in iron ore earnings has led dividend growth to flatline as the end of profit season sets up a high-stakes second half for companies facing an uneasy economic outlook.Almost $1.4 billion of dividends will arrive in the bank accounts of investors next week, beginning March 6, marking the first big week of cash payouts following the conclusion of the February reporting period on Tuesday, according to Bell Potter.
Although the iron ore price has been robust so far this year, earnings at the big producers are under pressure from rising costs and production issues.BHP shareholders will receive a US90¢ interim dividend after the miner reported a weaker-than-expected $US6.59 billion profit. This was caused byand a 26 per cent slide in the commodity’s prices over the December half.
Bell Potter’s Richard Coppleson estimates that dividends spanning the entire March-April payment period are on track to hit $36.3 billion this year, almost exactly in line with 2022. This would support investing by Australian institutional managers, he predicted. The 20 biggest dividend payers over the next eight weeks are BHP Group, Woodside Energy, Commonwealth Bank, Fortescue Metals Group and Rio Tinto, which combined have declared $17.7 billion or 67 per cent of what the top 20 earmarked as payouts.
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