Overview
- BlueScope will return A$438 million to investors via a special dividend of A$1 per share, payable on February 24.
- The company says the cash comes from selling its Tata BlueScope stake, a 33-hectare West Dapto parcel for A$76 million, and about A$200 million released from property projects.
- Management opted for a dividend rather than an on-market buyback, citing the current corporate circumstances.
- BlueScope recently rejected an approach from SGH and Steel Dynamics that outlets value between about $9 billion and $13.2 billion, with 13.52% shareholder AustralianSuper backing the rejection.
- Guidance points to stronger free cash generation over the next 12–18 months and at least A$500 million lower capital expenditure in fiscal 2027 versus 2026, with the unfranked dividend following first-half results on February 16.