Increasing demand for coal has increased profits for BHP Group

BHP Group, one of the largest mining companies, increased its annual profit by 26% as demand for coal increased.
The sanctions as a result of the Russia-Ukraine conflict caused an upward trend in the balance sheets of mining companies.

The company posted a profit of $23.82 billion for the fiscal year ending June 30.

The Australian company declared final dividends of $8.9 billion, or $1.75 per share, bringing total payouts for the year to $16.5 billion. Thus, the company increased these payments to the highest level in its 137-year history.

BHP said shareholder returns, including Woodside Petroleum shares, which were given to shareholders in exchange for the sale of the miner's oil division, were close to $36 billion.