Rio Tinto posts best underlying earnings since 2014, beats estimates

Rio Tinto on Wednesday reported its highest annual underlying earnings since 201...

- Rio Tinto on Wednesday reported its highest annual underlying earnings since 2014, beating market expectations on robust commodity prices, and announced a bumper dividend on divestments and an upbeat iron ore outlook.

Rio, flush with cash from recent sale of its Grasberg copper mine in Indonesia and other non-core assets, declared a final dividend of $1.80 per share and a $4 billion special dividend of $2.43 per share. Iron ore prices have surged after last month’s deadly collapse of a dam operated by Vale SA in Brazil that forced the world’s top iron ore miner to cut production, likely boosting earnings this year for its global rivals.

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