BlueScope Steel reports A$802 million profit, plans A$1.35 dividend

Australia's BlueScope Steel Ltd. announced a significant increase in profits for fiscal 2026, reporting a net profit after tax of A$802 million, up from A$83.8 million the previous year. The surge is attributed to higher underlying earnings before interest and tax (EBIT) and improved revenue. The company also revealed plans for dividends and provided an outlook for the first half of fiscal 2027.

This announcement comes at a time when BlueScope is capitalizing on strong performance across various markets, particularly in the United States and Southeast Asia. The company’s underlying EBIT reached A$1.273 billion, reflecting a 73 percent increase from A$738.2 million the prior year. This growth was driven by higher steel spreads in the U.S., record performance in Southeast Asia, and robust demand for its COLORBOND and TRUECORE steel products in Australia.

In addition to the impressive profit figures, BlueScope's board approved a total dividend of A$1.35 per share, which includes a 65-cent final ordinary dividend and a 70-cent special dividend. These payments are set to be distributed during the first half of fiscal 2027, with a record date of September 9 and payment on October 13. The company also announced plans for A$3.00 per share in shareholder returns throughout the 2027 calendar year, combining ordinary dividends and potential buy-backs.

Looking ahead, BlueScope expects underlying EBIT for the first half of fiscal 2027 to fall between A$860 million and A$960 million. Although the company reports strong momentum entering the new year, it acknowledges mixed operating conditions, with North America showing strength and Australia recovering. However, challenges persist in Asia due to overcapacity in China affecting regional spreads.