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Don't expect any share buybacks from BHP Billiton (BHP), CEO Marius Kloppers says on today's...
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Wednesday, August 24, 2011, 5:25 AM ETDon't expect any share buybacks from BHP Billiton (BHP), CEO Marius Kloppers says on today's earnings call, noting its $12.1B acquisition of Petrohawk Energy (HK) will absorb any extra cash. Rival Rio Tinto (RIO) boosted its buyback to $7B from $5B earlier this month, but Kloppers says BHP is prioritizing volume growth and dividends.
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