Whilst the likes of Afterpay Touch Group Ltd (ASX: APT) and Appen Ltd (ASX: APX) have taken the headlines this year with their impressive gains, they aren’t the only shares beating the market. Three of Australia’s biggest miners have also been impressive performers this year. The BHP Group Ltd (ASX: BHP) share price is up 15% year to date, the Fortescue Metals Group Limited (ASX: FMG) share price has rocketed an incredible 57% in 2019, and the Rio Tinto Limited (ASX: RIO) share price has stormed 23% higher since the turn of the year. Is it too late to invest?…
Three of Australia’s biggest miners have also been impressive performers this year.
The BHP Group Ltd (ASX: BHP) share price is up 15% year to date, the Fortescue Metals Group Limited (ASX: FMG) share price has rocketed an incredible 57% in 2019, and the Rio Tinto Limited (ASX: RIO) share price has stormed 23% higher since the turn of the year.
Is it too late to invest?
Whilst I’m not overly bullish on Fortescue and would class it as a hold after its impressive run, I still see a lot of value in BHP and Rio Tinto.
Especially if you’re an income investor that is comfortable with investing in resources shares.
In fact, if you act fast enough you could snap up both mining giants’ next dividends.
On Thursday BHP’s shares will trade ex-dividend for its fully franked 55 U.S. cents (78.2 Australian cents) per share interim dividend. This dividend will then be paid to shareholders on March 26.
Rio Tinto’s shares are also trading ex-dividend tomorrow for both its final and special dividends. Rio Tinto is paying shareholders a 180 U.S. cents (256 Australian cents) per share final dividend and a 243 U.S. cents (345 Australian cents) per share special dividend.
Combined, the total being paid to shareholders is 423 U.S. cents (601 Australian cents) per share. This equates to a fully franked yield of approximately 6.2% from just these two dividends. Eligible shareholders will be paid these on April 18.
As both their shares go ex-dividend tomorrow, you’ll need to buy shares today in order to be eligible to receive them.
However, I wouldn’t just buy their shares purely for this dividend. I would buy them with a view to holding them for the next few years due to their world class operations, strong cash flow generation, and favourable commodity prices.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. 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.