Page 205 - Annual Report 2020

17 Dividends

Year ended 30 June 2020 Year ended 30 June 2019 Year ended 30 June 2018
Per share Total Per share Total Per share Total Strategic Report
US cents US$M US cents US$M US cents US$M
Dividends paid during the period (1)
Prior year final dividend 78 3,946 63 3,356 43 2,291
Interim dividend 65 3,288 55 2,788 55 2,930
Special dividend − − 102 5,158 − −
143 7,234 220 11,302 98 5,221
(1) 5.5 per cent dividend on 50,000 preference shares of £1 each determined and paid annually (2019: 5.5 per cent; 2018: 5.5 per cent).
Dividends paid during the period differs from the amount of dividends paid in the Cash Flow Statement as a result of foreign exchange gains
and losses relating to the timing of equity distributions between the record date and the payment date. An additional derivative settlement Governance at BHP
of US$322 million was made as part of the funding of the interim dividend and is disclosed in Proceeds/(settlements) of cash management
related instruments in the Cash Flow Statement.
The Dual Listed Company merger terms require that ordinary shareholders of BHP Group Limited and BHP Group Plc are paid equal cash
dividends on a per share basis. Each American Depositary Share (ADS) represents two ordinary shares of BHP Group Limited or BHP Group Plc.
Dividends determined on each ADS represent twice the dividend determined on BHP Group Limited or BHP Group Plc ordinary shares.
Dividends are determined after period-end and announced with the results for the period. Interim dividends are determined in February and
paid in March. Final dividends are determined in August and paid in September. Dividends determined are not recorded as a liability at the
end of the period to which they relate. Subsequent to year-end, on 18 August 2020, BHP Group Limited and BHP Group Plc determined a final
dividend of 55 US cents per share (US$2,782 million), which will be paid on 22 September 2020 (30 June 2019: final dividend of 78 US cents
per share – US$3,946 million; 30 June 2018: final dividend of 63 US cents per share – US$3,356 million).
BHP Group Limited dividends for all periods presented are, or will be, fully franked based on a tax rate of 30 per cent. Remuneration Report
2020 2019 2018
US$M US$M US$M
Franking credits as at 30 June 10,980 8,681 10,400
Franking credits arising from the payment of current tax 471 1,194 1,330
Total franking credits available (1) 11,451 9,875 11,730
(1) The payment of the final 2020 dividend determined after 30 June 2020 will reduce the franking account balance by US$694 million.

18 Provisions for dividends and other liabilities Directors’ Report
The disclosure below excludes closure and rehabilitation provisions (refer to note 14 ‘Closure and rehabilitation provisions’), employee benefits,
restructuring and post-retirement employee benefits provisions (refer to note 25 ‘Employee benefits, restructuring and post-retirement
employee benefits provisions’) and provisions related to the Samarco dam failure (refer to note 4 ‘Significant events – Samarco dam failure’).
2020 2019
US$M US$M
Movement in provision for dividends and other liabilities 5
At the beginning of the financial year 501 944
Dividends determined 7,234 11,302
Charge/(credit) for the year:
Underlying 1,027 372
Discounting 3 10 Financial Statements
Exchange variations (356) 101
Released during the year (94) (391)
Utilisation (99) (338)
Dividends paid (6,876) (11,395)
Transfers and other movements (100) (104)
At the end of the financial year 1,240 501
Comprising:
Current 258 220
Non-current 982 281 Additional information

Shareholder information

BHP Annual Report 2020 203