BHP Says Reduced Debt By About USD15 Billion Over Last Two Years

MELBOURNE (Alliance News) - BHP Group PLC said it will be holding an investor and analyst briefing on Wednesday in Melbourne on its capital allocation framework.

The company, until this week known as BHP Billiton PLC, said it reduced debt by about USD15 billion over last two years and established target net debt range of USD10 billion to USD15 billion; minimum 50% payout ratio policy ties dividends to company performance.

It improved capital discipline with all investments tested against additional returns to shareholders.

The company noted that its framework promotes discipline in all capital decisions.