The BHP Billiton Limited (ASX: BHP) share price paced the S&P /ASX200 (ASX: XJO) higher today after climbing 3.5% to $33.53 on the back of news that it will pay all eligible shareholders a bumper US$1.02 per share (approx A$1.42) special dividend after it completed a US$5.2 billion share buyback.
In total BHP will return around US$10.4 billion to shareholders after it completed the sale of its onshore US shale oil assets in the second half of 2018 and BHP's management boasts that it has now returned US$21 billion to shareholders over the last two years.
As an oddball dividend stock BHP is joining the likes of Qantas Airways Limited (ASX: QAN) in showering investors with cash, although these payouts are short-term sugar hits, rather than sustainable growth strategies.
However, based on the A$1.42 special dividend alone BHP shares offer a 4.2% dividend, while it paid another A$1.56 in ordinary dividends over the past 12 months.
You can't argue with that as a dividend seeker even if the BHP share price has gone backwards over the past 10 years.
