ANZ Flag Notable Dividend Flows That Could Support Aussie

ANZ note that “despite souring global conditions, Australia’s big miners have reported another strong set of profits. This translates into significant dividend flow, some of which will need to be converted into AUD for domestic shareholders. Last Tuesday, BHP announced a record final dividend of USD8.9bn, following from Rio’s USD1.4bn the week before. There are at least 14 other companies that will declare a USD dividend for Q3. We calculate the size of the announced USD dividends at USD12.7bn. This is at least four times the average since 2010 and only slightly below the record set in 2022 Q1 (when iron ore prices were much higher).”