This should also benefit the shareholders, who can look forward to the company’s highest annual dividend to date.
“The recovery in the global economy and industrial production resulted in a significant increase in the price of our key commodities, which we were able to leverage to deliver record results with free cash flow of $17.7 billion and adjusted earnings of $21.4 billion This allows us to pay our highest full-year total dividend to date of $10.40 per share,” said Jakob Stausholm, CEO of Rio Tinto. In the previous year, the group had distributed $ 5.57 per share.
Consolidated sales grew 42 percent to $63.49 billion and net income climbed to $21.09 billion from $9.77 billion a year earlier. In addition to the rising prices for iron ore, which accounts for the lion’s share of Rio Tinto’s profits, the higher prices for copper and aluminum also provided a tailwind for the group. Last year, according to Rio Tinto, the price of a tonne of iron ore rose to $143.80, up from $98.90 in 2020.
On the London stock exchange, the Rio Tinto share was up 0.44 percent to GBP 57.06 early on.
By Rhiannon Hoyle
LONDON (Dow Jones)
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