CANBERA (dpa-AFX) - BlueScope Steel Limited announced the return of A$438 million in surplus cash to shareholders through an unfranked special dividend of A$1.00 per share. The dividend will have a record date of 21 January 2026 and will be paid on 24 February 2026.
The surplus cash being distributed has been generated from several recent initiatives. These include the sale of BlueScope's 50 per cent interest in the Tata BlueScope joint venture for A$167 million, the agreement to sell 33 hectares of land at West Dapto for $76 million, and the ongoing realization of residual projects within the BlueScope Properties Group. Together, these property-related initiatives are expected to deliver a working capital release of around A$200 million across fiscal year 2025 and fiscal year 2026.
Looking ahead, BlueScope anticipates a significant increase in free cash generation over the next 12 to 18 months. This improvement will be driven by the completion of its major investment program, with capital expenditure expected to decline by at least A$500 million in fiscal year 2027 compared to fiscal year 2026.
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