Woodside pays big dividends as profits rise

“The turbulence in the global and Australian energy markets witnessed over the course of the last six months has highlighted the importance of gas in the global energy mix and underscores our confidence in the long-term prospects for gas demand, which it represents 70 percent of Woodside’s portfolio,” he said.

Woodside, which began trading its shares in London and New York during the half, said construction of its $16.5 billion Scarborough and Pluto-2 gas project in Western Australia is 18 percent complete, with all equipment main purchased.

Its Sangomar oil project in Senegal is 63 percent complete, with a second drillship starting work on the site in July. Mrs O’N

Ms. O’Neill said in a conference call that Woodside’s balance sheet is “well positioned” as the company heads into a period of significant capital spending on major investment projects over the next few years.

The total value of the interim dividend payment was $2.1 billion, he said, noting that the number of shares has also nearly doubled through the BHP deal.

Ms. O’Neill also highlighted Woodside’s payments in royalties and taxes, noting that it paid $700 million in the first half and has paid about $12 billion since 2011.

Woodside’s ending profit for the halving increased to $1.64 billion, from $317 million at the June 2021 halving.

Analysts had an unusually wide range of dividend expectations, ranging from a payout of 50 per cent of reported net profit to 80 per cent, with further uncertainty as to whether Woodside would include cash from BHP assets prior to closing. June merger in the calculation of dividends. Or not.

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