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AAP
AAP
Business
Derek Rose

Steelmaker pledges dividend bonanza, but shares drop

BlueScope Bluescope Steel Dean Lewins Ryan Stokes SGH
BlueScope Steel has fired up both its profits and its dividend to shareholders. (Dean Lewins/AAP PHOTOS)

Australia's biggest steelmaker has promised to shower its shareholders with increased payouts weeks after rejecting a a lucrative takeover offer, but so far investors are wary.

BlueScope Steel on Monday announced a dividend of 65 cents per share, more than double the 30 cents per share analysts had predicted, after a big jump in first-half earnings.

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