Top UK Stocks to Watch: Rio Tinto shares hit record high on bumper payout
Joshua Warner
February 17, 2021 9:36 AM
Rio Tinto pays its biggest dividend in its history, BAT expects profits to rise again this year, Imperial Brands gets a new CFO, Greencoat UK Wind and TP ICAP raise equity, and Signature Aviation sells its engine repair business.
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Top News: Rio Tinto pays biggest dividend in its history
Rio Tinto said it will pay a record dividend for 2020 after higher commodity prices allowed it book significantly higher margins and profit, sending shares to an all-time high.
The miner said revenue in the year edged up to $44.61 billion from $43.16 billion the year before, but underlying earnings before interest, tax, depreciation and amortisation jumped 13% to $23.90 billion from $21.19 billion. Net earnings jumped even higher, growing 22% to $9.76 billion from $8.01 billion.