Melbourne, February 17, 2026, 16:58 (AEDT) — The session has ended.
- BHP finished the day up 4.9% at A$52.84, not far off its all-time high of A$54.20 reached earlier.
- The miner bumped up its interim dividend to 73 U.S. cents per share, coming off a profit that topped forecasts.
- Copper prices are drawing traders’ attention, along with ongoing iron ore negotiations with China and those early-March dividend dates.
BHP Group Ltd surged 4.9% to close at a new record—A$52.84—on Tuesday, propelled by a fatter interim dividend and profits boosted by copper. Shares were active between A$52.73 and A$54.20.
BHP’s push toward copper lands as iron ore prices wobble and costs climb. For Australia, it’s a sharp reminder: a handful of big miners and banks still dominate the index.
Copper is now the main signal traders are watching. Bets have been building on the metal, as hopes rise for lasting demand driven by grid upgrades and surging data center consumption. Iron ore? Its pricing outlook isn’t as clear.
BHP reported a 25% jump in underlying EBITDA to US$15.5 billion, with underlying attributable profit at US$6.2 billion. The miner is handing shareholders an interim dividend of 73 U.S. cents per share, sticking to a 60% payout ratio. Copper’s share of underlying EBITDA hit 51%, a figure CEO Mike Henry described as “a milestone” for BHP. BHP
Reuters quoted Andy Forster, portfolio manager at Argo Investments, on the unexpected dividend boost: “They smashed everyone’s expectations from a dividend perspective.” The report went on to note that copper operating earnings reached US$7.95 billion, slipping ahead of iron ore’s US$7.50 billion. A 32% surge in realised copper prices made the difference. Iron ore unit costs rose 7% to US$19.41 a tonne, while prices this week dropped to a seven-month low. MINING.COM
BHP-backed Vicuña has mapped out an $18 billion investment push spread across several years, focusing on copper, gold, and silver developments in Argentina. According to a statement picked up by Reuters, $7 billion of that sum is set aside for Josemaria and Filo del Sol, with spending kicking off in 2027. The two sites are slated to begin production by 2030.
BHP took the spotlight in the local market, surging up to 7.2% at its peak, ABC’s market coverage showed.
If copper prices stumble or iron ore’s decline accelerates while costs march higher, the narrative could unravel quickly. Even a heavyweight like BHP can feel the pinch from ramped-up project spending in a softer market.
Other big players like Rio Tinto and Glencore lean hard into copper too, so swings in copper prices usually ripple through the whole group. But for BHP, this day’s story zeroed in on dividends and its shifting focus toward copper—iron ore output, for once, took a back seat.
The interim dividend schedule is up next. BHP marks March 5 as its ex-dividend date on the ASX and LSE (March 6 for NYSE holders), and payment comes through on March 26. That ex-dividend date is when shares first trade without the attached dividend rights.
Heading into Wednesday, traders are eyeing BHP to see if shares keep their momentum from the post-results surge. The focus is also on copper and iron ore—key to the company’s updated earnings mix—as the March ex-dividend date approaches.
Related articles: ASX:BHP
