BHP (ASX:BHP) shares remain in limelight today, here’s why

3 min read | September 05, 2022 05:34 PM AEST | By Ritwika

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BHP (ASX:BHP) shares remain in limelight today, here’s why — Image source: © Timonschneider | Megapixl.com

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Highlights:

BHP’s share price was mostly driven by strong sectoral performance on ASX today (September 5).

BHP’s share price closed 2.857% stronger by the end of Monday’s trading session on ASX.

The S&P/ASX 200 Materials sector closed 1.944% higher today.

Shares of metal and mining giant BHP Group Limited (ASX:BHP) closed 3.187% stronger at AU$37.91 per share on ASX today (5 September). Despite sharing any significant announcement today, BHP shares closed in the green zone after Monday’s trading session.

Over the last 12 months, BHP’s share price has declined by more than 10% on ASX. Furthermore, BHP’s YTD-based share price fell almost 11% by the end of today’s trading session on ASX.

What's the reason behind BHP’s good performance on ASX today?

It is to be noted that BHP did not share any significant announcements on ASX today, yet its shares have performed well. It seems that sectoral performance might have driven BHP’s share price on ASX today.

Today, the ASX 200 Materials sector was one of the best performing sectors on ASX. The S&P/ASX 200 Materials sector (INDEXASX:XMJ) ended today’s trading session 1.944% stronger at 15405.4 points.

Shares of other mining giants such as Rio Tinto and South32 also closed in green zone today. The share price of Rio has closed 1.751% stronger on ASX, while South32 ended 3.750% higher today.

Summary of BHP’s FY22 results:

Last month, BHP released its fully audited financial results for FY22 on ASX. The company’s financial result demonstrated strong financials supported by the company’s ‘safe and reliable operations, project delivery and capital management discipline.

BHP reported a 34% growth to US$34.1 billion in its profit from its operations in FY22.
BHP’s underlying attributable profitability gained by 26% to US$21.3 billion in the given period.
The company’s net operating cash flow stood at US$29.3 billion, up by 13% compared to its previous corresponding period.
The company’s earnings per share (EPS) grew by 25% in FY22.
BHP reported that it has significantly improved its debt position by 92% to US$333 million in FY22.

BHP’s dividend distribution plan:

The board of BHP has decided to pay a fully franked final dividend of AU$2.47 per share to its eligible shareholder, backed by strong financial performance in FY22. BHP is expected to pay the dividend on 22 September 2022. The ex-dividend and record dates were 1 September and 2 September, respectively.

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