Thu Sep 12 00:09:58 UTC 2024: ## BHP Shares Dip as Ex-Dividend Date Hits, But Analysts Remain Bullish
**Sydney, Australia** – The BHP Group Ltd (ASX: BHP) share price took a dip on Thursday morning, falling 2% to $38.60. This decline was attributed to the company going ex-dividend for its final dividend of FY 2024, meaning new shareholders are no longer eligible to receive the upcoming payout.
The dividend, a fully franked 74 US cents per share (A$1.09 per share), equates to an attractive 2.8% dividend yield based on yesterday’s closing price. Eligible shareholders can expect to receive the dividend on 3 October.
Despite the share price drop, analysts remain optimistic about BHP’s future. Goldman Sachs has maintained a “buy” rating on BHP shares, with a price target of $49.10, implying a potential upside of 27% over the next 12 months. The broker highlights BHP’s superior margins and operating performance, particularly in the Pilbara iron ore region, as key factors supporting the positive outlook.
“BHP is currently trading at ~5.5x NTM EBITDA (25-yr average EV/EBITDA of 6.6x), a premium to RIO on ~4.5x; and at 0.85xNAV vs RIO at 0.75x NAV,” commented Goldman Sachs in a recent note.
The ex-dividend date is a routine event that often leads to a temporary dip in share prices. Investors are advised to consult with a financial advisor for personalized investment advice.
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