The BHP Group Limited (ASX: BHP) share price is on the rise in early afternoon trade today. It is currently up 1.65% to $40.92 per share.
The S&P/ASX 200 Index (ASX: XJO) is up a more modest 0.82%.
Investors will welcome the BHP share price lift today. The miner has been heavily sold off in recent weeks amid plummeting iron ore prices.
Iron ore dropped another 4% overnight to US$117 per tonne. Just 4 weeks ago, on 17 August, it was trading for US$167 per tonne. That’s 30% above today’s price.
That was also the day that BHP released its full-year 2021 financial results (FY21).
Below we recap those results, and how the BHP share price has been performing since.
What FY21 results did the ASX 200 miner report?
BHP reported its FY21 results after market close on 17 August. At the time the BHP share price stood at $51.33.
Among the key metrics BHP reported were underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) of US$37.4 billion (AU$51.2 billion). That was up 69% from FY20.
The mining giant also gifted investors a big dividend boost. The company declared a final dividend of US$2.00 per share, fully franked. That brought BHP’s full-year dividend to $3.01 per share, up 151% on the previous year.
Earnings reporting day also came with a big announcement on BHP’s merger deal with Woodside Petroleum Limited (ASX: WPL).
Commenting on the merger, BHP’s chairman Ken MacKenzie said:
The agreement to pursue a merger of BHP’s petroleum business with Woodside will maximise the value of our oil and gas assets through increased operating scale and synergies, with a more diversified product portfolio to support the energy transition.
How has the BHP share price performed since the results?
Despite the big dividend payout and soaring profits, investors hit the sell button on 18 August, the first day of trading after the results announcement. The BHP share price closed the day down a painful 7%.
Since reporting, and facing hefty tailwinds from falling iron ore prices, BHP’s shares have lost 21%.