Rio Tinto PLC (NYSE:RIO) Announces Dividend of $2.54

Rio Tinto PLC (NYSE:RIO) announced a dividend on Thursday, February 19th. Shareholders of record on Friday, March 6th will be given a dividend of 2.54 per share by the mining company on Thursday, April 16th. This represents a yield of 527.0%. The ex-dividend date is Friday, March 6th.

Rio Tinto has decreased its dividend payment by an average of 0.1%annually over the last three years. Rio Tinto has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Rio Tinto to earn $6.73 per share next year, which means the company should continue to be able to cover its $2.95 annual dividend with an expected future payout ratio of 43.8%.

Rio Tinto Trading Up 0.6%

Shares of NYSE:RIO traded up $0.58 during trading on Friday, reaching $96.92. 2,205,047 shares of the stock were exchanged, compared to its average volume of 4,410,121. Rio Tinto has a 12-month low of $51.67 and a 12-month high of $100.33. The firm’s 50-day moving average price is $87.21 and its 200 day moving average price is $73.89. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.