[miningmx.com] – THE world’s mining companies will be pushed into a new wave of write-downs and dividend cuts but BHP Billiton may be able to maintain its progressive dividend policy, said Reuters citing Evy Hambro, chief investment officer for Blackrock’s natural resource division.
“In general, the absence of cash flow will put pressure on dividends, but some will be able to stay the course,” Hambro told Reuters at the Mines and Money conference in London. “BHP haven’t cut their dividend since 1935. It will be a brave management team and board that would take that decision.”
“There are definitely more writedowns to come… we’re going to see quite some substantial writedowns ahead,” said Hambro.
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