BHP Billiton remains robust: chairman

Resource shares are under pressure in the volatile and uncertain global economic environment but BHP Billiton remains "robust and resilient", chairman Jac Nasser has told the company's AGM in London.

He told shareholders that in a year when falling commodity prices reduced the company's earnings by more than $US15 billion, the management team delivered a solid set of operational results.

A strong balance sheet gave the company the confidence to increase its dividend in line with its progressive dividend policy, Mr Nasser said.

He said BHP Billiton put health and safety first but despite that five company employees died at work in the 2015 financial year.

"This is unacceptable, and on behalf of the board I extend my deepest sympathy."

On climate change, Mr Nasser said the company believed it had an important role to play in limiting the global average temperature increase to remain below two degrees Celsius and was committed to carbon reduction and renewable energy projects.

CEO Andrew Mackenzie told the meeting that despite lower commodity prices the company delivered the best margins in the sector.

He said underlying attributable profit was 52 per cent lower at $US6.4 billion.

Iron ore, coal and petroleum set production records and in copper, strong performance at Escondida in Chile offset an unplanned mill outage at Olympic Dam in South Australia.

Mr Mackenzie said that in the 2015 financial year the company delivered productivity gains of $US4.1 billion, two years ahead of target.

He said annual capital and exploration costs had been reduced by 24 per cent to $US11 billion in the 2015 financial year and this year that would reduce further to $US8.5 billion.

The meeting heard that in 2015 the company produced an attributable profit of $US1.9 billion and net operating cash flows of $US19.3 billion.

The company increased its full-year dividend by two per cent to 124 US cents per share.