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Highlights:
- BHP shares closed 3.6% strong on ASX today (20 September 2022).
- The share price is likely been pushed by the performance of the ASX 200 Materials sector.
- BHP has gained 1.40% in last five trading days on ASX.
Leading Australian mining and exploration company BHP Group Limited (ASX:BHP) shares closed 3.623% stronger at AU$39.180 per share on ASX today (20 September).
In the last one year, BHP's share price has appreciated by 3.79% on ASX. On a YTD basis, BHP's share price has fallen 7.55% on ASX (as of 4:10 PM AEST today).
What is behind BHP's share price push on ASX today?
One of the important factors that might have pushed the share price of BHP on ASX today could be the sectoral performance. Of all the 11 significant sectors under the benchmark S&P/ASX 200 index, 9 ended in the green zone.
Out of these nine well-performing sectors, the S&P/ASX 200 Materials sector was the best performing one. The S&P/ASX 200 Materials sector (INDEXASX:XMJ) closed 2.64% higher today.
What else has happened in BHP recently?
BHP has recently entered the new financial year- FY23. As per the company's update following are the key pointers from BHP's financial results for FY22:
In FY22, BHP delivered US$34.1 billion as profit from operations, up 34% as compared to the previous year.
BHP reported an underlying EBITDA of US$40.6 billion at a record margin of 65% for continuing operations in FY22.
Furthermore, BHP reported US$30.9 billion of attributable profit and US$23.8 billion of record underlying attributable profit, up 39% from the prior year for total operations in FFY22.
The mining company's net operating cash flow stood at US$29.3 billion in the given period, and it reported a record free cash flow of US$24.3 billion for continuing operations by the end of FY22. This was the result of higher coal and copper prices and disciplined cost control.
The company has contributed US$17.3 billion in tax, royalty and other payments to governments in FY22.
BHP's dividend distribution plan:
The board of BHP has declared to pay a final dividend worth US$1.75 per share to its eligible shareholders on 22 September 2022. The company will be spending a total of US$8.9 billion to pay dividends to its shareholders, including an additional US$3 billion.
