Say what you like about BHP, it didn't squander the boom
- Written by The Conversation Contributor
During the commodity price boom from 2004-2011 BHP Billiton’s board raised the firm’s dividend to an unsustainable level. Now, in the commodity bust, the board has been forced to cut it by 75%.
The board has been heavily criticised for its conduct of dividend policy. Critics have focused mainly on the type of dividend policy and timing...