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RIO - Rio Tinto News Story

6135p -169.0  -2.7%

Last Trade - 14/05/21

Sector
Basic Materials
Size
Large Cap
Market Cap £99.32bn
Enterprise Value £103.19bn
Revenue £31.65bn
Position in Universe 13th / 1826

BREAKINGVIEWS-Rio can use sunny outlook to mend leaky roof

Wed 17th February, 2021 10:04am
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.) By George Hay LONDON, Feb 17 (Reuters Breakingviews) - Jakob Stausholm’s first results benefitted from soaring iron ore prices, allowing the global miner’s new CEO to hike dividends. But he has a messy situation in Mongolia to resolve, and governance issues. Better to spend time and money fixing these than on splashy new deals. Full view will be published shortly. On Twitter https://twitter.com/gfhay CONTEXT NEWS - Rio Tinto on Feb. 17 announced underlying earnings for the year ended Dec. 31 of $12.5 billion, compared to $10.4 billion a year earlier, beating analysts’ estimates of $12.02 billion, according to Refinitiv data. - The global miner declared a 464 U.S. cents a share 2020 dividend, a 21% increase from 2019, plus a special payout of 93 cents a share. The 557 cents overall dividend means Rio is paying out 72% of underlying earnings. - Rio’s net debt fell from 7% of total capital at end-2019 to 1%. - Rio’s Australian-listed shares were trading at A$127.4 as of 0813 GMT on Feb. 17, up 3.6%. - For previous columns by the author, Reuters customers can click on HAY/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ UPDATE 3-Rio Tinto hands back cash on sky-high iron ore, profit beat urn:newsml:reuters.com:*:nL4N2KN1BA Earnings statement https://www.riotinto.com/invest/presentations/2021/annual-results BREAKINGVIEWS-New Rio Tinto boss has Mongolian bullet to bite urn:newsml:reuters.com:*:nL4N2JT26E ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Neil Unmack and Oliver Taslic) ((george.hay@thomsonreuters.com; Reuters Messaging: george.hay.thomsonreuters.com@reuters.net))
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