BHP has released its Australian economic contribution figures for the 2021 financial year.
The post The BHP (ASX:BHP) share price is flat in 2021. But how much has the company contributed to the Australian economy? appeared first on The Motley Fool Australia. –
The BHP Group Ltd (ASX: BHP) share price hasn’t gone anywhere over the past 9 months, since falling in mid-August. This is in stark contrast to when the miner registered gains of close to 30% before its steep drop.
Clearly, the sinking iron ore spot price along with the Chinese government’s efforts to reduce reliance is affecting BHP shares.
But you may be wondering, despite the current woes, how much has BHP contributed to the Australian economy in 2021?
BHP’s contribution to Australia
BHP released its Australian economic contribution figures for the 2021 financial year in a statement to the ASX.
A key driver of the country’s economic engine, BHP has injected a total of $34.1 billion. This comprises $11.1 billion in payments to suppliers, $6 billion in dividend and interest payments to investors, $100 million in social investments, and $4.5 billion in employee payments.
In addition, the total payment to the Australian government came in at around $12.4 billion. The amount relates to Australian taxes, royalties and other payments to governments, accounting for 41.4% of the total economic output.
State royalties include $3 billion to Western Australia, $402 million to Queensland, $102 million to South Australia, $83 million to New South Wales, and $444 million in other payments to federal and state governments.
Looking over the last 10 years, BHP has contributed about $80.3 billion to the Australian economy.
BHP share price summary
Since this time last year, BHP shares have moved 11% higher. Year to date though, shares are down around 1%.
At the time of writing, the BHP share price is adding pressure, down 0.86% to $41.68 today. BHP shares have lost close to 20% in value in the past month, including a 6% drop on 2 September when the company went ex-dividend.
BHP commands a market capitalisation of roughly $123 billion, making it the third largest company on the ASX.
Should you invest $1,000 in BHP right now?
Before you consider BHP, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BHP wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Why the Rio Tinto (ASX:RIO) share price is in the red on Tuesday
Why the BHP (ASX:BHP) share price is slumping 1% today
ASX 200 midday update: BHP & Fortescue fall, Flight Centre storms higher
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.