The BHP Billiton Limited (ASX: BHP) share price is up nearly 2% to $33.66 today as the miner gets ready to hand out US$5.2 billion ($A7.3 billion) in dividends to shareholders tomorrow. The cash splash comes on top of a US$5.2 billion share buy-back the iron ore miner completed in 2018 after selling its onshore US shale assets for more than US$10.4 billion.
Some of the cash handed out in the form of a US$1.02 (around A$1.40) per share dividend is likely to find its way back into BHP shares or other blue chips on the local stock market, with other candidates potentially the big banks like Commonwealth Bank of Australia (ASX: CBA) or even mining rival Rio Tinto Limited (ASX: RIO).
The BHP share price is probably heading higher today for reasons unrelated to the special dividend, as iron ore prices are reportedly rising after another dam disaster at an iron ore mine operated by Vale in Brazil that has led to the deaths of at least 60 people so far.
This tragic situation is set to cast another shadow over the safety of the iron ore mining industry in Brazil in particular.
