Home / Business and Economy / BlueScope Returns A$438M to Shareholders
BlueScope Returns A$438M to Shareholders
14 Jan
Summary
- BlueScope will distribute A$438 million to shareholders via a special dividend.
- Funds for the dividend stem from asset sales, including a Tata Steel JV stake.
- The company rejected a $9 billion takeover offer last week.
BlueScope Steel announced on Wednesday, January 14, 2026, that it will distribute A$438 million to its shareholders. This significant return of capital will be in the form of a special dividend of A$1 per share, funded by surplus cash generated from recent asset sales and ongoing property projects.
The surplus funds include proceeds from the sale of its stake in a joint venture with India's Tata Steel, a land sale for A$76 million, and expected working capital from residual property projects. This decision to issue a dividend was made as an on-market share buyback was deemed not feasible under the current corporate circumstances.
In related news, BlueScope recently rejected a substantial A$9 billion takeover offer from a consortium including SGH and Steel Dynamics. The company, along with its largest investor AustralianSuper, believes the offer undervalued the business. BlueScope anticipates increased free cash generation in the coming 12-18 months, with a projected reduction in capital expenditure by at least A$500 million in fiscal 2027 compared to fiscal 2026.
