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Telstra Group Ltd (ASX: TLS) is one of those ASX 200 shares that is famous for its dividends. The ASX telco is an ASX dividend stalwart and can be found in many a dividend investor’s portfolio.

That comes from the relatively large and consistent dividend payments Telstra shares have made ever since they first listed on the ASX back in the 1990s. But Telstra hasn’t gotten through its three decades and counting on the ASX without some hiccups along the way.

Investors were mightily unimpressed back in 2018 and 2019 when Telstra delivered sharp cuts to its annual dividend. In fact, 2022 has been the first year since 2019 that Telstra has raised its annual dividend.

Saying that, it did manage to keep its dividends steady throughout 2020 and 2021. Both were COVID-affected years which saw many other ASX blue-chip shares slash their dividend payouts.

So with all of this in mind, let’s check out what kind of dividend income an investor would enjoy from Telstra shares today.

How much dividend income would $20,000 worth of Telstra shares bag you?

Let’s start by assuming an investor owns $20,000 worth of Telstra shares. At today’s price of $3.92, a $20,000 investment would get an investor 5,102 Telstra shares, with a little change left over.

Over the past 12 months, Telstra has given its investors the typical two dividend payments. The first was the fully franked interim dividend of 8 cents per share that we saw back in April. Our investor’s 5,102 shares would have yielded a payment of $408.16 for this dividend.

The second was the 8.5 cents per share final dividend, also fully franked, that was paid out in September. This would have resulted in $433.67 in dividend income.

So if an investor owned $20,000 worth of Telstra shares right now, they would have enjoyed a total of $841.83 in dividend income from their shares this year. That equates to a dividend yield of 4.21% on the current Telstra share price.

If we factor in the value of Telstra’s full franking credits, this yield grosses up to 6.01%.

The post Here’s how much dividend income $20,000 worth of Telstra shares will get you today appeared first on The Motley Fool Australia.

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More reading

• 3 passive ASX income machines to help fund your retirement
• Here are the 3 most traded ASX 200 shares on Tuesday
• How I’d aim to generate a growing passive income from dividend shares
• Building a passive income for retirement? Check out these 3 ASX 200 dividend shares
• Morgans names 2 of the best ASX 200 dividend shares to buy

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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S&P/ASX 200 Index (ASX: XJO) bank shares have gotten a lot of attention in 2022 as interest rates began to rise.

Faced with soaring inflation, the Reserve Bank of Australia (RBA) hiked the official cash rate for the first time in more than a decade on 4 May, taking the rate from the historic low of 0.10% to the still quite low 0.35%.

The RBA has hiked rates at every monthly meeting since then, taking the cash rate to today’s 2.85%. Several more hikes are expected over the coming months.

This casts particular light on ASX 200 banks, as they operate in one of the few sectors where rising interest rates can help their performance. That’s because moderately higher rates enable banks to increase their net interest margins.

On the flip side, if rates rise too high it could negatively impact ASX 200 banks by increasing their levels of non-performing loans and decreasing the number of new home loans.

Which brings us to Wilsons latest portfolio reshuffle.

Why is Wilsons selling down its ASX 200 bank shares?

Wilsons is lightening its holdings of three ASX 200 banks. Namely Australia and New Zealand Banking Group Ltd (ASX: ANZ), National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC).

The broker’s analysts said (courtesy of The Australian), “After the banks’ reporting season over the past few weeks, we have become increasingly cautious on the banks.”

The analysts believe the banks have likely reached a peak in net interest margins. They also pointed to a slowdown in the Aussie economy and housing credit amid rapidly rising interest rates. All up they said this means the earnings estimates for the banks are “too optimistic”.

Wilsons’ Focus Portfolio exposure to the ASX 200 banks was reduced to 16.5% as it added a 3% exposure to Mineral Resources Limited (ASX: MIN).

How have the big banks performed in 2022?

Of the three ASX 200 banks Wilsons is trimming, only ANZ has underperformed in 2022, with the share price down 12%. NAB shares meanwhile have gained 4.7% while the Westpac share price is up 7.6% this calendar year.

For some context, the ASX 200 is down 6% year to date.

The post Why is Wilsons selling down its ASX 200 bank shares? appeared first on The Motley Fool Australia.

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• Could this top ASX 100 share be the best of an ‘extremely cheap’ sector?
• Are ANZ shares really on track to offer a 7% dividend yield?
• Hoping to bag the latest Westpac dividend payment? Here’s what you need to know
• 2 ASX dividend giants to buy now: brokers
• ASX 200 bank shares: fundie picks winners and losers of the big four

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Even while being down over 18% year to date (as of Nov. 15), Apple (NASDAQ: AAPL) is the world’s most valuable public company, with a market cap of over $2.3 trillion. For perspective, that’s more than Alphabet and Amazon combined. Apple didn’t reach this size by luck, either — it’s well-deserved.

Between its world-class products and brand loyalty that’s second to none, Apple is a force to be reckoned with. Here are three reasons you should buy Apple stock in 2023 and never sell.

1. Apple is becoming a player in the financial industry

Apple’s first time dipping its toes in the financial services space was in 2014, when it announced Apple Pay. Apple Pay gave people the convenience of paying with a phone, but not many looked at it as Apple making a serious entrance into the industry. Fast forward to 2019, with the announcement of the Apple Card, and it became a bit more apparent that Apple was getting serious.

With the Apple Card, Apple partnered with Goldman Sachs (NYSE: GS) to approve applications and fund the loans. This is why, when they announced Apple Pay Later, it was a clear message that other financial companies should plan accordingly. Apple Pay Later is the company’s move into the buy now, pay later industry. But, more importantly, it’s the first time Apple is underwriting and funding loans by itself 

With Apple able to provide financial services without any middleman, it’s in a prime position to use its vast tech power to take the ever-growing financial technology (fintech) space by storm. The global fintech market was just over $115 billion in 2021 and is expected to reach over $936 billion by 2030. I’d bet Apple wants a decent-sized slice of that pie.

2. Streaming is moving in a positive direction

Apple’s streaming service, Apple TV+, undoubtedly lags behind other platforms like Netflix, Hulu, and Disney+, but there should be brighter days ahead as the company puts more resources behind the platform. In June, Apple and Major League Soccer (MLS) — the world’s fastest-growing soccer league — announced they had struck a deal to show all MLS matches worldwide for 10 years beginning in 2023.

The MLS deal, worth at least $2.5 billion, is the first time a major American sports league has moved all of its games to a streaming platform. It’s also the first time in major professional sports history that the games won’t have any restrictions or local blackouts. It’s a step that shows Apple is becoming more serious about making investments to become more competitive in the streaming space.

Will Apple TV+ ever grow to become a top three streaming service? It’s not likely in the foreseeable future. But you can bet it will continue to grow and slowly but surely begin to gain some market share.

3. It’s an undisputed cash cow

In a year defined by high inflation and economic anxiety, Apple managed to bring in $394.3 billion in revenue in its 2022 fiscal year (up 8% year over year) and a record $90.1 billion in the fourth quarter alone (up 8% year over year). For perspective, Visa, the 10th largest U.S. company by market cap, brought in $29.3 billion in its fiscal year.

There’s no denying that Apple is a cash cow, and there’s no reason to believe it’ll slow down in the future. Apple has more cash on hand than a lot of companies in the S&P 500 are worth. Although holding on to too much cash and not investing in other areas can slow a company’s growth, I don’t see this being a problem for Apple.

With a bank account that size and a commitment to innovation, Apple still has room for noticeable growth — which is what matters as an investor. It’s one thing to have a great history; it’s another thing to be primed for future success. The latter is why I’m a strong believer in Apple. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 3 reasons to buy Apple stock in 2023 — and never sell appeared first on The Motley Fool Australia.

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More reading

• Is it a Warren Buffett stock or not? 5 simple questions to ask yourself
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• Why big US tech stocks ripped higher today
• Better big tech stock: Apple vs. Alphabet
• Is Apple stock a buy now?

Stefon Walters has positions in Apple. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Goldman Sachs, Netflix, Visa, and Walt Disney. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2024 $145 calls on Walt Disney, long March 2023 $120 calls on Apple, short January 2024 $155 calls on Walt Disney, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Netflix, and Walt Disney. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.    

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The S&P/ASX 200 Index (ASX: XJO) is having a decent day, but these ASX 200 shares are having a better one. They’ve each soared to their highest points in years. Or even, ever.

Right now, the ASX 200 has lifted 0.13%. Meanwhile, two stocks that call the index home are leaping as much as 11%.

So, what’s sending them sky-high on Thursday? Keep reading to find out.

ASX 200 shares trading at long-forgotten highs

There’s big news driving the share price of ASX 200 travel giant Webjet Limited (ASX: WEB) today.

The company has officially returned to profitability following the disastrous impact of the COVID-19 pandemic.

The online travel agent posted its earnings for the first half of financial year 2023 this morning, detailing a $32 million underlying profit – up from a $29.2 million loss.

The company’s revenue also lifted 217% to $175.7 million, while its bookings were up 137% to 3.4 billion. However, it hasn’t returned to paying dividends yet.

The results sent the Webjet share price soaring to a new post-pandemic high of $6.24 earlier today. That marks an 11% gain on its previous close.

The ASX 200 travel share has since dropped slightly to trade at $6.08, 8.2% higher, at the time of writing.

It’s joined in the green today by shares in ASX 200 jewellery retailer Lovisa Holdings Ltd (ASX: LOV).

They hit a high of $25.80 earlier today – a 3.7% gain ­– despite no news having been released by the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) stock. That marked a new all-time high for the retailer’s shares.

At the time of writing, the Lovisa share price has slipped slightly to trade at $25.39, a 2% gain.

Interestingly, there’s been no price-sensitive news from the retailer in more than two months.

Though, its stock has gained 27% since the start of 2022 – outperforming the ASX 200 by 33% in that time.

The post Why did these ASX 200 shares just crack new, multi-year highs? appeared first on The Motley Fool Australia.

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More reading

• Webjet share price jumps 10% on ‘spectacular turnaround’
• Guess which ASX 200 lithium director just snapped up $250,000 worth of their company’s shares
• Buy these ASX 200 shares now before the market wakes up: fund manager
• 5 things to watch on the ASX 200 on Thursday
• 3 ASX mining shares on ice today pending big news

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa Holdings Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Allkem Ltd (ASX: AKE) share price is rising on Thursday.

In morning trade, the lithium miner’s shares are up 1.5% to $14.79.

Why is the Allkem share price rising?

Today’s gain by the Allkem share price may have been driven by a broker note out of Morgans.

According to the note, the broker has upgraded the company’s shares to an add rating with an improved price target of $15.70.

Based on the current Allkem share price, this implies potential upside of 6.1% for investors from current levels.

What did the broker say?

Morgans notes that lithium shares sank this week “on news that some lithium carbonate futures contracts traded in China had fallen in price by 7%.” It also highlights that some “Chinese battery producers have also reportedly reduced their inventories potentially indicating softening demand.”

However, despite this, it points out that spot prices reported by AsianMetal fell by only a modest 0.5%.

In light of this, the broker appears to believe investors should block out the noise and focus on spot prices instead. It commented:

We think that spot prices are a better guide for AKE’s contract reference price and we expect demand to remain strong for the next 12 months.

As a result, the broker believes it is too soon to “underweight the sector.” It concludes:

We think it’s quite possible that AKE’s share price regains some of its lost ground if spot prices remain steady into the new year. We think the market has moved too early as it did in May when fears of oversupply circulated despite lithium pricing remaining robust. There will be a time to underweight the sector but we don’t think that time has arrived yet. We upgrade our rating to ADD on valuation upside but we do note the sector remains highly volatile.

The post Allkem share price up on broker upgrade: Analyst says it’s too soon ‘to underweight the sector’ appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX 200 lithium director just snapped up $250,000 worth of their company’s shares
• Dig this! Look how many of the top-performing ASX 200 shares today are miners
• Can ASX lithium shares really keep dining out at these price levels?
• The future of ASX lithium shares: Are investors looking through rose-coloured glasses?
• Why Allkem, Core Lithium, Flight Centre, and NAB shares are dropping today

Motley Fool contributor James Mickleboro has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re a Bank of Queensland Ltd (ASX: BOQ) shareholder, then today is a great day. It’s dividend payday for BOQ shares, meaning a dividend cheque is about to hit your bank account, if it hasn’t already.

As an ASX bank share, investors obviously pay attention to the dividends coming their way from BOQ. So let’s dive into what’s in store.

So Bank of Queensland will be doling out its final dividend for FY2022. It will be a payment worth 24 cents per share, fully franked. This represents a pleasing 9% hike over both last year’s final dividend and this year’s interim dividend, which was paid out back in May.

Both dividend payments were worth 22 cents per share.

But if you wish to receive this latest Bank of Queensland dividend, you would have had to own the shares before the ex-dividend date of 27 October. Any new shareholders who bought in on or after that date are ineligible.

Bank of Queensland shares pay out final dividend

So this latest dividend will bring BOQ’s total dividend payments over the past 12 months to 26 cents per share. That gives Bank of Queensland a dividend yield of 6.35%, based on the current (at the time of writing) share price of $7.28.

Including the value of the full franking credits, this yield grosses up to 9.07%, putting it in the top echelon of ASX bank shares right now.

The Bank of Queensland share price has had a fairly rough time of it lately. The bank remains down by close to 13% year to date in 2022 thus far, and down by 14.4% over the past 12 months. Over the past five years, BOQ has lost a depressing 41.6% of its value.

At the current Bank of Queensland share price, this ASX 200 bank share has a market capitalisation of $4.71 billion, with a price-to-earnings (P/E) ratio of 12.3.

The post The Bank of Queensland upsized dividend is being paid out today. Here’s the lowdown appeared first on The Motley Fool Australia.

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More reading

• ASX 200 bank shares: fundie picks winners and losers of the big four
• Top fund manager sounds alarm bells for bank shares
• Are Bank of Queensland shares worth buying in November?
• Experts name 2 ASX 200 dividend shares to buy next week
• Is Bendigo Bank the best bet for dividends out of all the ASX 200 bank shares?

Motley Fool contributor Sebastian Bowen has positions in Bank of Queensland. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Pilbara Minerals Ltd (ASX: PLS) share price is pushing higher on Thursday.

In morning trade, the lithium miner’s shares are up 3% to $5.10.

Why is the Pilbara Minerals share price pushing higher?

Investors have been bidding the Pilbara Minerals share price higher today after the company released the results of its latest spodumene concentrate auction.

According to the release, the auction, which was held on its digital Battery Material Exchange (BMX), commanded a price that was higher than what it received last month. That’s despite recent speculation that demand was cooling for the battery making ingredient in the key China market.

Pilbara Minerals revealed that another cargo of 5,000dmt of spodumene concentrate at a target grade of ~5.5% lithia was presented for sale on the digital platform and received a winning bid of US$7,805/dmt (SC5.5, FOB Port Hedland basis).

This is the equivalent of ~US$8,575/dmt (SC6.0, CIF China basis).

How does this compare to last month?

As a comparison, the second BMX auction of October received a winning bid of US$7,255/dmt (SC5.5, FOB Port Hedland basis), which was the equivalent of ~US$8,000/dmt on an SC6.0 CIF China basis.

This means that Pilbara Minerals’ spodumene has increased in value by 7.2% since the last auction.

Judging by the Pilbara Minerals share price performance today, this appears to have eased concerns that lithium prices will be heading sharply lower in the near term from softening demand.

The post Why is the Pilbara Minerals share price pushing higher today? appeared first on The Motley Fool Australia.

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More reading

• Pilbara Minerals share price on watch amid booming lithium auction price
• 5 things to watch on the ASX 200 on Thursday
• Here are the 3 most traded ASX 200 shares on Wednesday
• Dig this! Look how many of the top-performing ASX 200 shares today are miners
• Why Arafura, Nufarm, Pilbara Minerals, and Whitehaven Coal are charging higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Sayona Mining Ltd (ASX: SYA) share price is in the red this morning after the company announced major news of its Canadian lithium activities.

It has agreed to acquire 985 square kilometres of lithium exploration claims near its majority-owned Moblan Lithium Project.

Unfortunately, the market has reacted poorly to the announcement. The Sayona share price is trading 1.28% lower at 23.2 cents at the time of writing.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has lifted 0.1% today, and the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.63%.

Let’s take a closer look at the latest news from the recently crowned ASX 200 lithium share.

Sayona Mining announces ‘major acquisition’

The Sayona share price is having a lacklustre morning despite news of what the company calls a “major acquisition”.

It has agreed to buy 1,824 claims covering a major part of the Frotêt‐Evans Greenstone Belt.

The claims haven’t been extensively explored and provide the potential for extensions of Moblan mineralisation and other regional targets. They’re currently owned by Candian-listed Troilus Gold Corp.

The acquisition will cost the ASX 200 lithium company approximately CA$40 million – currently around AU$44.5 million – worth of shares.

It has also agreed to subscribe to around CA$4.8 million – approximately AU$5.3 million – worth of Troilus stock, taking its hold in the company to 9.26%.

Finally, Troilus will receive a 2% net smelter return royalty on minerals produced from the claims.

Sayona managing director Brett Lynch commented on the agreement, saying:

This is an investment in Sayona’s future production … The lithium market needs large tonnages for long periods and we are excited by the potential to expand our lithium resources in northern Québec.

Added to our southern Abitibi hub centred on North American Lithium, Sayona is rapidly advancing the leading lithium resource base in North America in preparation for our move downstream into lithium carbonate and hydroxide production.

Sayona shares might have also been front of mind yesterday when the company hosted its annual general meeting (AGM). There, the company reiterated majority-owned North American Lithium (NAL) operation’s restart is on track for early 2023.

Today’s news also follows the revelation of an earn-in agreement signed between NAL and Candian-listed Jourdan Resources on Tuesday. The agreement covers 48 claims at Québec’s Vallet Lithium Project.

Sayona Mining share price snapshot

Today’s tumble hasn’t been enough to plunge the Sayona share price into the longer-term red.

The stock is still 66% higher than it was at the start of 2022. It has also gained 45% since this time last year.

Meanwhile, the ASX 200 has fallen 6% year to date and 3% over the last 12 months.

The post Sayona Mining share price slumps despite ‘major acquisition’ appeared first on The Motley Fool Australia.

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More reading

• Can ASX lithium shares really keep dining out at these price levels?
• The future of ASX lithium shares: Are investors looking through rose-coloured glasses?
• Sayona Mining share price slides 7% despite acquisition news
• Here are the 10 most shorted ASX shares
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The ASX Ltd (ASX: ASX) share price is in the red in early trade, down 2.5%. This comes after Australia’s largest securities exchange said it is reassessing all aspects of its CHESS replacement project.

ASX said it had conducted its own internal assessment of the CHESS replacement project, which you may recall commenced way back in 2015.

An independent review was also conducted by Accenture.

Accenture was brought in to review the project in early August this year, when the ASX reported yet another delay with its blockchain-based system upgrade plans.

At the time, the company reported the new system, being developed by application provider Digital Asset, wouldn’t be up and running until 2024.

Now it appears the hyped ledger technology may be off the cards entirely.

What is the ASX CHESS system?

CHESS, if you’re not familiar, stands for Clearing House Electronic Subregister System. In a nutshell, the system enables the transfer of ownership of any ASX shares you buy or sell. It also provides an electronic subregister for shares in listed companies.

Why is the exchange sticking with CHESS now?

In this morning’s release, ASX said that significant challenges with the solution design and its ability to meet the exchange’s requirements had been identified.

The company has halted all development activities on the blockchain system upgrade. It said the current CHESS system “remains secure and stable and is performing well”.

In a financial blow, the replacement system’s capitalised software is being derecognised at a cost of $245–$255 million (pre-tax) in the first half of 2023. The ASX added that this will not impact dividends.

Commenting on the decision, ASX chairman Damian Roche said, “We began this project with the latest information available at that time.”

However, seven years down the road, he noted, “There are significant technology, governance and delivery challenges that must be addressed.”

Roche continued:

ASX provides critical market infrastructure. What we do matters. We must do it right and we will. Importantly, our current CHESS system is performing well and investment in it will continue, giving us flexibility to reassess the various pathways for its ultimate replacement.

Addressing the roughly $250 million non-cash derecognition charge, ASX CEO Helen Lofthouse added:

To be clear, the derecognition charge reflects the uncertainty of the future value of the current solution design. It does not prevent us from using parts of what we have already built if we determine there are adjustments we could make to our current design, which will enable it to meet ASX’s and the market’s high standards.

The ASX will update shareholders on further developments with its CHESS system at the company’s half-year results presentation in February 2023.

ASX share price snapshot

The ASX share price has underperformed the benchmark this calendar year, down 25% compared to a 6% loss posted by the S&P/ASX 200 Index (ASX: XJO).

Over the longer term, ASX shares are up 26% in five years.

The post ASX share price slides amid $250 million CHESS replacement bombshell appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The OZ Minerals Limited (ASX: OZL) share price remains out of action on Thursday.

This follows the request for a trading halt on Wednesday.

What’s going on with the OZ Minerals share price?

As a reminder, before the market open yesterday, OZ Minerals requested a trading halt pending an announcement “in relation to a potential change of control transaction.”

While the company hasn’t provided any further details, it is widely accepted that OZ Minerals is back in talks with mining giant BHP Group Ltd (ASX: BHP).

This follows a takeover approach from the Big Australian earlier this year offering $25.00 per share, which was swiftly rejected by the OZ Minerals board.

What’s the latest?

There were rumours yesterday that BHP and OZ Minerals had made progress and were preparing to release an announcement this morning.

However, this hasn’t been the case and investors look set to have to wait until tomorrow morning when the OZ Minerals trading halt ends for further details.

One thing for sure, though, is that the offer is expected to be greater than $27.00 per share.

That’s because analysts estimate that BHP’s previous offer is the equivalent of $27.00 per share today after factoring in movements in the copper price and the weaker Australian dollar.

Another thing to watch is the potential for the two parties to make a deal based on where the copper price trades. This would allow OZ Minerals to back out of a deal if there a material change in the price of the base metal.

All will (hopefully) be revealed tomorrow.

The post OZ Minerals shares remain halted ahead of potential BHP takeover offer update appeared first on The Motley Fool Australia.

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• Which are the best ASX mining shares to buy now for 2023?
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• 3 ASX mining shares on ice today pending big news
• Looking to buy BHP shares? Here’s why the miner could be in for a $2b windfall
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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