Shareholder
returns

A key element of BlueScope’s Financial Framework is to maintain strong financial capacity, so we can robustly weather industry and economic cycles and deliver on opportunities to build value and deliver returns to shareholders.

 

Capital management approach

Our capital management framework operates a returns-focussed process with disciplined competition for capital, balancing shareholder returns and long-term profitable growth, while seeking to retain strong credit metrics, and a resilient balance sheet.

Given this approach, and in line with Our Financial Framework, our current policy is to distribute at least 50% of free cash flow to shareholders as consistent dividends and buy-backs.

Capital Management Framework

Share buy-back

We seek to use on-market share buy-backs to supplement paying consistent dividends. Buy-backs are attractive given their flexibility in managing capital and for the contribution they can deliver to Earnings Per Share.  The timing and value of shares purchased will depend on factors such as the prevailing market conditions and share price.

Buy-back history

Half yearShares bought (M)Consideration ($M)Average price ($/sh)
2H FY20245.8$130M$22.34
1H FY20249.7$193M$19.96
2H FY20238.4$165M$19.56
1H FY20237.4$120M$16.19
2H FY202218.8$353M$18.74
1H FY202213.6$285M$20.94
2H FY2021---
1H FY2021---
2H FY20202.9$34M$11.86
1H FY202014.6$186M$12.68
2H FY201917$217M$12.81
1H FY201918.9$293M$15.50
2H FY20189.2$152M$16.50
1H FY201812$148M$12.37
2H FY201712.8$150M$11.74
TOTAL127.2$1,937M$15.23

 

More information on our latest buy-back program is available in our financial results announcements.

Dividends

Dividend Reinvestment Plan

The BlueScope Steel Limited Dividend Reinvestment Plan (DRP) is not active.

Dividend history

Since August 2021 it has been the Board’s intention to target annual ordinary dividends of 50 cents per share per annum, that is 25 cents per share per half year.  The annual dividend per share paid is subject to the Company’s financial performance, business conditions, growth opportunities, capex and working capital requirements and the determination of the Board determination at the relevant time.

Dividend history table

YearDividendRecord datePayment dateCents per share (reported unadj.)Cents per share (adj. for cons.)FrankingDRP issue price
FY2024

Final 

Interim

11 Sep 24

26 Feb 24

15 Oct 24

26 Mar 24

30 cents

25 cents

30.0 cents

25.0 cents

100%

100%

Not active

Not active

FY2023

Final

Interim

13 Sep 23

27 Feb 23

17 Oct 23

28 Mar 23

25 cents

25 cents

25.0 cents

25.0 cents

100%

100%

Not active

Not active

FY2022

Final

Interim

7 Sep 22

28 Feb 22

12 Oct 22

29 Mar 22

25 cents

25 cents

25.0 cents

25.0 cents

0%

0%

Not active

Not active

FY2021

Special

Final

Interim

8-Sep-21

8-Sep-21

1-Mar-21

13-Oct-21

13-Oct-21

30-Mar-21

19 cents

25 cents 

6 cents

19.0 cents

25.0 cents

6.0 cents

0%

0%

Not active

Not active

FY2020

Final

Interim

9-Sep-20

2-Mar-20

14-Oct-20

31-Mar-20

8 cents

6 cents

8.0 cents

6.0 cents

0%

0%

Not active

Not active

FY2019

Final

Interim

12-Sep-19

4-Mar-19

16-Oct-19

2-Apr-19

8 cents

6 cents

8.0 cents

6.0 cents

0%

0%

Not active

Not active

FY2018

Final

Interim

10-Sep-18

5-Mar-18

16-Oct-18

3-Apr-18

8 cents

6 cents

8.0 cents

6.0 cents

0%

50%

Not active

Not active

FY2017

Final

Interim

11-Sep-17

3-Mar-17

16-Oct-17

31-Mar-17

5 cents

4 cents

5.0 cents

4.0 cents

100%

100%

Not active

Not active

FY2016

Final

Interim

12-Sep-16

4-Mar-16

10-Oct-16

31-Mar-16

3 cents

3 cents

3.0 cents

3.0 cents

100%

100%

Not active

Not active

FY2015

Final

Interim

n/a 

n/a 

n/a 

n/a 

0 cents

0 cents

0.0 cents

0.0 cents

n/a 

n/a 

Not active

Not active

FY2014

Final

Interim

n/a 

n/a 

n/a 

n/a 

0 cents

0 cents

0.0 cents

0.0 cents

n/a 

n/a 

Not active

Not active

FY2013

Final

Interim

n/a 

n/a 

n/a 

n/a 

0 cents

0 cents

0.0 cents

0.0 cents

n/a 

n/a 

Not active

Not active

FY2012

Final

Interim

n/a 

n/a 

n/a 

n/a 

0 cents

0 cents

0.0 cents

0.0 cents

n/a 

100%

Not active

Not active

FY2011

Final

Interim

n/a

4-Mar-11

n/a

4-Apr-11 

0 cents

2 cents

0.0 cents

10.4 cents

100% 

100% 

Not active

Not active

FY2010

Final

Interim

24-Sep-10

n/a

20-Oct-10

n/a

5 cents

0 cents

25.4 cents

0.0 cents

100% 

100% 

$2.19

Not active

FY2009

Final

Interim

n/a

4-Mar-09

n/a

31-Mar-09

0 cents

5 cents

0.0 cents

20.4 cents

n/a

100% 

Not active

$2.26

FY2008

Final

Interim

26-Sep-08

5-Mar-08

22-Oct-08

1-Apr-08

27 cents

22 cents

110.0 cents

89.6 cents

100%

100% 

$6.79

$9.37

FY2007

Final

Interim

28-Sep-07

7-Mar-07

23-Oct-07

2-Apr-07

26 cents

21 cents

105.9 cents

85.5 cents

100%

100% 

$10.83

$9.35

FY2006

Final

Interim

4-Oct-06

6-Mar-06

24-Oct-06

3-Apr-06

24 cents

20 cents

97.8 cents

81.5 cents

100%

100% 

$10.83

$9.35

FY2005

Special

Final

Interim

5-Oct-05

5-Oct-05

4-Mar-05

24-Oct-05

24-Oct-05

4-Apr-05

20 cents

24.0 cents

18.0 cents

81.5 cents

97.8 cents

73.3 cents

100%

100%

100% 

Not active

Not active

Not active

FY2004

Special

Final

Interim

5-Oct-04

5-Oct-04

2-Mar-04

18-Oct-04

18-Oct-04

29-Mar-04

10.0 cents

18.0 cents

12.0 cents

40.7 cents

73.3 cents

48.9 cents

100%

100%

100% 

Not active

Not active

Not active

FY2003

Special

Final

Interim

16-Sep-03

16-Sep-03

18-Mar-03

10-Oct-03

10-Oct-03

22-Apr-03

7.0 cents

13.0 cents

9.0 cents

28.5 cents

53.0 cents

36.7 cents

100%

100%

100% 

Not active

Not active

Not active

Capital gains tax

Below you will find some general information regarding the capital gains tax cost base for BlueScope Steel shares.