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Rio Tinto says it’ll pay a complete dividend for the yr of $10.40 a share, together with a particular dividend of $2.47.
{Photograph} by Denis Charlet/AFP/Getty Photographs
Rio Tinto
‘s earnings for 2021 jumped 72% as costs of commodities soared and the world’s second-largest miner stated it will reward shareholders with its highest-ever dividend.
Rio Tinto (ticker: RIO) posted underlying earnings of about $21.4 billion, up 72% from a yr earlier. The earnings, a file, have been principally consistent with analysts’ estimates. Income within the quarter of $63.5 billion rose 42% from a yr earlier.
The corporate stated it will pay a complete dividend for the yr of $10.40 a share, together with a particular dividend of $2.47, representing a 79% payout of underlying earnings. The dividend totaled $7.7 billion.
“The restoration of the worldwide economic system, pushed by industrial manufacturing, resulted in important value energy for our main commodities, which we have been in a position to seize, reaching file monetary outcomes with free money stream of $17.7 billion andunderlying earnings of $21.4 billion,” stated Chief Government Jakob Stausholm.
Rio Tinto is the world’s prime iron-ore producer. It benefited final yr from file iron-ore costs.
The corporate left its manufacturing steering principally unchanged, however famous it was feeling the consequences of upper inflation and a rebound in vitality costs.
U.S.-listed shares of Rio Tinto rose 0.3% to $78.03. The inventory edged 0.3% decrease in London.
Write to Joe Woelfel at joseph.woelfel@barrons.com
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