Thanks for that information! Unfortunately, I bought BHP just before the price began dropping. Today's big drop shows investors are worried about China's continued purchasing/economy. I did read some articles about their slowing economy, but heck: the world's economy is slowing!
BHP Billiton Group is a Dual Listed Company [two companies operating as if merged, consolidated operating and financial basis]. First of all "BHP" is the US ADR for two shares of the Australian part of the DLC: BHP.AX. BBL is the US ADR for two shares of the UK part of the DLC: BLT.L. How all this works is explained in the Group's annual report available on their website. No one knows why BBL sells at a discount, other than the currency difference in the underlying shares. There are tax differences for UK and Australian citizens owning the underlying shares of the ADR's. Australia does not tax dividends to the extent that the corporation has already paid tax on the income (called Franking).
I own both ADR's and no tax is withheld on either one.
Thanks for the info. I only recently learned of the two names for the same company. Wish I would have bought BBL instead. The dividend payout is the same so that makes for a higher return % on the BBL shares. I wonder why both pay $2.28/year when the market price differs so much.