BHP outlines
plan to spin off South32
Carl
Surran, SA News Editor
- BHP Billiton (NYSE:BHP) outlines its plan
to spin off the new company called South32, saying shareholders
will vote May 6 on a proposal to offer investors one share in the separate
company for every BHP share.
- BHP says South32 will distribute at least 40% of its
underlying earnings as dividends to shareholders, and reiterates it will
not re-base its own dividend lower following the de-merger.
- BHP last year announced its intention to spin off
nickel, aluminum and other properties that would allow it to focus on
fewer resource operations in what would be one of the biggest de-mergers
in mining history.
Quelle: bigcharts.com
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