Melbourne, Feb 18, 2026, 17:03 (AEDT) — The market has closed.
- BHP dropped 0.9% Wednesday, pulling back after hitting a record high the previous day on stronger-than-expected profit and dividend numbers.
- The interim dividend comes in at 73 U.S. cents, with the ASX ex-dividend date falling on March 5.
- Traders are watching iron ore prices and waiting to see if BHP’s $4.3 billion silver streaming deal actually prompts more action.
BHP Group (BHP.AX) slipped 0.9% to close at A$52.29 on Wednesday, giving back some ground after Tuesday’s record-setting jump on earnings. Shares ranged from A$51.55 to A$52.46 through the session.
Investors took profits after BHP posted half-year numbers that landed well ahead of forecasts, both on earnings and dividends. The miner’s underlying attributable profit climbed 22% to $6.20 billion, a clear beat versus the $6.03 billion consensus from Visible Alpha. BHP also delivered a 73-cent interim dividend, topping what analysts had penciled in. Shares had soared 7% on Tuesday. “They smashed everyone’s expectations from a dividend perspective,” said Andy Forster, portfolio manager at Argo Investments. Reuters
BHP leaned on the latest results to reinforce its new pitch to investors—shifting toward copper and dialing back its dependence on iron ore. For FY26, the miner boosted its group copper target to between 1.9 million and 2.0 million tonnes. The company pulled in $9.4 billion in operating cash flow during the half, closing out with net debt at $14.7 billion, right in that $10–$20 billion comfort zone.
BHP just struck a new silver monetisation deal. The miner signed a $4.3 billion streaming agreement with Wheaton Precious Metals, handing over a slice of future silver production from its stake in Peru’s Antamina mine in exchange for cash up front. “Quality silver production is becoming increasingly difficult to source,” said Wheaton’s CEO, Randy Smallwood, as demand keeps climbing. Reuters
Stocks climbed, but miners trailed behind. The S&P/ASX 200 tacked on roughly 0.5% to close at 9,007, as materials stood out as the sole sector in the red.
BHP stock faces a lingering question: does Tuesday’s dividend shock have staying power? CEO Mike Henry has flagged a wider effort to squeeze cash from current assets. The silver stream plays a significant role there, but shareholders are watching closely for follow-through.
Traders are eyeing the dividend calendar as a key reference this week. For BHP, the ex-dividend date lands on March 5 for both ASX and London holders, with March 6 set as the record date, and payouts scheduled for March 26, per the company’s official dividend timetable.
But there’s a risk playing out as well. Iron ore remains a key factor—and prices haven’t helped, with Reuters pointing out a seven-month low this week. BHP’s iron ore division is also seeing costs climb, a combination that could put pressure on those dividend hopes if it sticks around.
As the next session looms, traders keep their eyes on the usual suspects—copper and iron ore—but there’s a fresh angle this time. The question: is BHP’s foray into non-core metals dealmaking a sign of things to come, or was this just a well-timed one-off?
March’s dividend cut-off is approaching, with BHP’s nine-month operational review set for April 22, according to its financial calendar.
