BHP Copper Surge Drives Record Earnings and Highest Dividend in Four Years

BHP Group, the world's largest listed mining company, reported better-than-expected full-year earnings and declared its highest annual dividend in four years. The miner's underlying attributable profit rose by 30% to US$13.2 billion, surpassing the Visible Alpha consensus estimate of US$12.66 billion.

The strong performance was driven by record copper prices, which climbed above US$14,000 per metric ton this year. BHP's copper business generated US$18.19 billion in operating earnings, making it the miner's top earnings driver for the first time, surpassing iron ore's US$14.53 billion.

CEO Brandon Craig emphasized the importance of copper and other foundational commodities in driving global development. He highlighted BHP's project pipeline, which could boost its copper production by as much as 40% by 2035, despite short-term production declines.

BHP announced a final dividend of 99 cents per share, bringing the full-year distribution to US$1.72 apiece, the highest in four years. The miner's shares rallied up to 4.2% to a two-month high of A$64.79.