Rio Tinto Rio Tinto has reported record financial results and total dividend of 1,040 US cents per share for 2021, a 79% payout.
According to the official announcement, the company has achieved a record full-year dividend 1,040 US cents per share, including a 247 US cents per share special dividend, representing a 79% payout.
One of the main reasons listed is higher iron ore prices and strong demand from Chinese customers.
The mining giant also reported underlying earnings of $21.4 billion for 2021.
“Our people have continued to safely run our world-class assets and are working hard to improve our operational performance, despite challenging operating conditions from prolonged COVID-19 disruptions,” said Rio Tinto Chief Executive Jakob Stausholm.
“With the launch of our new strategy, we have set a new direction for Rio Tinto to thrive in a decarbonising world. We have a portfolio that is well-positioned, and are targeting disciplined investment in commodities that will see strong demand in the coming decades.
“Our agenda is an ambitious, multi-year journey which we are determined to deliver and we have already taken the first steps, with underground operations underway following the Oyu Tolgoi agreement and a binding agreement to acquire the Rincon lithium project in Argentina.”
The company also announced that it is currently reviewing the legal basis for the cancellation of the controversial Jadar project in Serbia.
After Rio announced that it intends to invest $2.4 billion in the Jadar lithium-borates project, one of the world’s largest greenfield lithium projects, the Serbian government cancelled the Spatial Plan and revoked all related permits.
Now, Rio says, it will no longer report an Ore Reserve for the Jadar project.
Despite these complications, the company has big plans for the future, according to Mr Stausholm.
“We continue to evolve and deepen the way we engage and interact with all stakeholders as we work hard to generate and strengthen relationships wherever we operate,” he said.
“Our actions will ensure we continue to deliver attractive returns to shareholders, invest in sustaining and growing our portfolio, and make a broader contribution to society, particularly in relation to the drive to net-zero carbon emissions.”
