One of BHP Billiton ’s biggest shareholders says that the mining giant has a responsibility to stick to its $US6.5 billion progressive dividend policy despite the crash in commodity prices, because it opted against returning excess cash during recent super profit years.

But some shareholders say the ­dividend policy - which provides that BHP’s dividend does not go backwards – should be put under review. BHP’s cash flow is under pressure thanks to the dual unravelling in the prices of the miner’s two biggest earners – oil and iron ore.