- The ASX at a 10-week high after a flurry of record profit results from the blue chips.
- Australia?s largest company BHP announced a record profit and record dividend.
- Profits for Santos, Treasury Wine Estates, Brambles, JB-HiFi and Beacon Lighting all beat expectations.
This earnings season has been a blue chip dividend bonanza for Australian shareholders.
Australia?s three largest companies all announced bumper dividends last week.
BHP?s (ASX:BHP) total FY22 dividend was a record AUD$4.62 (US$3.25).
Commonwealth Bank (ASX:CBA) upped its total 2022 dividend to $3.85 per share.
Csl (ASX:Csl) announced a dividend of AUD$1.70 per share.
Higher than expected profits also fuelled momentum on the sharemarket with profits of Santos, Treasury Wine Estates, Brambles, JB-HiFi and Beacon Lighting all surprising on the upside.
The soaring company profits prompted complaints from the Australian Council of Trade Unions (ACTU), saying these ?supernormal? profits need to be reigned in.
But for retirees facing rising living costs, the blue chip bumper dividend crop may be just the ticket to offset higher prices.