The Motley Fool

BHP Billiton Limited (ASX:BHP) share price on watch after Samarco class action

S&P/ASX 200 commodity darling BHP Billiton Limited’s (ASX: BHP) share price is on close watch after news broke today the oil and gas giant would face another law suit over Brazil’s Samarco dam catastrophe.

According to the Belfast Telegraph, a class action has been filed in Liverpool in the UK by the SPG Law firm with more than 240,000 claimants.

BHP’s share price seems untouched by such news so far today – up 0.8% to $33.40 – in line with its November surge off the back of the announcement for BHP’s US$10.4 billion buy back and special dividend program.

BHP’s shares suffered a slump in share price following its mid-October AGM and Citi placed a buy rating on the share earlier this week, albeit before news of the class action broke.

It’s unclear what the Samarco legal debacle will mean for the BHP share price, but investors should keep an eye on things.

Sector peer Rio Tinto Limited’s (ASX: RIO) share price is up 1.7% to $80.98 today with Woodside Petroleum Limited’s (ASX: WPL) share price also up 2.1% to $34.10.

Significant news items can impact share price and, ultimately, dividends too.

Find OUR #1 dividend pick to grow your wealth now is revealed for FREE here!

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now