Global miner BHP Billiton said on Friday it will write down the value its U.S. shale assets by $7.2 billion on a bleak outlook for oil and gas prices, cementing expectations it will be forced to cut its dividend for the first time in over 25 years. Investors have argued that BHP should abandon its policy of holding or increasing its dividend at every result, as it is having to rely on debt to fund the payout following a rout in commodity prices and steep fall in profits. “Simply put, the company can’t afford to maintain its dividend policy without taking the balance sheet into territory that would be incredibly uncomfortable for a company of its nature,” said Ben […]