|
BHP Billiton to launch huge shares buyback
|
BHP BILLITON, the Anglo-Australian mining group headed by Chip
Goodyear, will buy back up to A$1.5 billion (Pounds 600 million) of
its shares to return profits to investors, as cash continues to pour
into the company's coffers from soaring commodity prices.
In a statement issued by BHP Billiton corporate headquarters in
Melbourne today, the company said it will buy back between A$1
billion and A$1.5 billion of its stock at about A$2.10 a share plus a
tax-paid dividend, allowing some Australian investors to claim a
capital loss on the sale.
The company will announce the full scale of the ...
