HomeBusinessMarketRio Tinto reports record full year earnings, dividend

Rio Tinto reports record full year earnings, dividend

Rio Tinto PLC, the world’s second-biggest mining firm by market worth, reported its full-year outcomes for 2021 on Wednesday. Here’s what you could know:

UNDERLYING PROFIT: Rio Tinto reported underlying earnings of $21.38 billion for the yr, up from $12.45 billion in 2020. That was roughly in keeping with the $21.63 billion market consensus from 13 analyst estimates compiled by Visible Alpha.

TOTAL DIVIDEND: Rio Tinto reported a complete dividend of $10.40 a share. That was up from $5.57 a share for the yr earlier and beat the Visible Alpha consensus of $10.21 a share.

PAYOUT: With Rio Tinto having benefited from file iron-ore costs throughout the yr, buyers have been anticipating a money windfall and so they acquired one. Rio Tinto’s highest whole dividend ever included a particular dividend and represented a 79% payout of underlying earnings, up from 72% in 2020.

LITHIUM: Last month, Serbia’s authorities canceled the spatial plan for Rio Tinto’s Jadar challenge and ordered all associated permits be revoked. Rio Tinto on Wednesday mentioned it’s dedicated to exploring all choices for the challenge.

INFLATION: Rio Tinto mentioned common actions in power costs year-on-year lowered annual underlying earnings earlier than curiosity, taxes, depreciation and amortization by $398 million, “mainly due to higher diesel prices for our trucks, trains and ships and an increase in power costs at Kennecott.” Rising basic worth inflation throughout its world operations resulted in a $690 million discount in underlying Ebitda, the corporate mentioned.

Write to Rhiannon Hoyle at [email protected]

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