2/17/2021, 7:50 AM (Source: TeleTrader)
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Rio Tinto's 2020 profit up 22% to $9.77 billion

Rio Tinto Group published its fourth-quarter earnings results on Wednesday, revealing that its profit annually surged 22% in 2020 to reach $9.77 billion.

"During 2020, the agility and resilience of the business and our employees, coupled with strong commodity prices, enabled us to deliver underlying EBITDA of $23.9 billion and Return on Capital Employed of 27%. As a result, the Board has approved a total dividend of 557 US cents per share including a special dividend of 93 US cents per share, representing a 72% full-year payout ratio, which builds on our five-year pay-out track record," Chief Executive Jakob Stausholm said in the report.

The company reported a 21% increase in underlying earnings per share, which yearly soared to $7.7 in 2020. Rio Tinto also confirmed the 45% global emissions reduction target by 2030.

Baha Breaking News (BBN) / ND