Rio Tinto sees record 2021 profit, plans to double full-year shareholder payout
By Rhiannon Hoyle Rio Tinto PLC, one of the world's biggest mining companies, said it made a record profit in 2021 and would nearly double its full-year payout to shareholders, becoming the latest resources company to report a surge in earnings from increased commodity prices.Underlying earnings totaled $21.38 billion, up from $12.
Directors of Rio Tinto declared a final dividend of $4.17 a share plus a special dividend of $0.62, taking the total payout for the year to $10.40 a share. Some of its rivals, including Glencore PLC and BHP Group Ltd., have also reported record earnings in their latest respective fiscal reports. The price of iron ore, the key ingredient in steel, was especially strong, surging to an all-time high in May. China's steel output last year exceeded 1 billion metric tons for a second time while, globally, crude steel production rose by one of its largest absolute annual increments in history to record levels, Rio Tinto said.
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