BUZZ-Australia's BHP Billiton up on dividend commitment

** BHP Billiton Ltd, the world's biggest mining company, rises as much as 2.7 pct

** Says commitment to progressive dividend unchanged; increases FY dividend by 2 pct to 124 cents per share

** Declares final dividend of 62 cents

** Reduces FY net debt by $1.4 bln to $24.4 bln

** Delivered FY productivity gains of $4.1 bln, two years ahead of target

** Says expects moderate but sustainable growth in Chinese steel production over the next decade

** Shares (Berlin: DI6.BE - news) have fallen 12.3 pct this year, as of Tuesday's close

** Stock among the biggest percentage gainers on the ASX 300 Metals & Mining Index (Reuters Messaging: aparajita.saxena.thomsonreuters.com@reuters.net)