News – AU – Rio Tinto Receives US93 ¢ Special Dividend

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Rio Tinto has thrown analyst guidance out of the water with the biggest dividend in history after extraordinarily strong iron ore prices drove the miner into its biggest profit in nine years

The $ 557 of total dividends in 2020 came when Rio reported $ 12 billion in underlying annual earnings by Jan. December

Analysts measured by VUMA had expected Rio to pay dividends of $ 4.80 per share for the year on the back of $ 1.174 billion in underlying earnings with a payout of $ 9 billion

Rio’s new chief executive Jakob Stausholm delivered full year results on Wednesday from Perth, having traveled to the company’s iron ore heartland in recent days to meet traditional owners

The company has vowed to restore the trust of traditional owners following the Juukan Gorge scandal last year, which destroyed valuable cultural heritage with the expansion of the Brockman 4 iron ore mine in Rio

A shareholder revolt over the executive penalties imposed by the Rio Board of Directors ultimately led to the resignation of CEO Jean-Sebastien Jacques and two other senior executives in September

Mr. Stausholm was named chief executive just before Christmas and came to Perth in late January for two weeks of hotel quarantine before being allowed to travel across the state, which has generated the vast majority of Rio’s revenue for more than a decade / p>

Just as BHP made up for weaker-than-expected dividends last year with a much higher-than-expected payout on Tuesday, Rio’s shock dividend appears to be in compensation for its cautious stance on shareholder returns in the first few months of the coronavirus pandemic

Wednesday’s dividend surpassed the largest yet in Rio’s history in 2018, when Rio returned the proceeds from the sale of assets to shareholders in addition to its normal dividend

Labor has beaten the national broadband company for wasteful premiums and has asked the Morrison government to explain

The move shows, as reported, the “dangers associated with Beijing’s dominance,” says an industry player

Newmark Capital has entered into an agreement to acquire a three-tier bunnings in north Melbourne that will build up on a slope of an ASX float

Corporate Australia is relieved by the decision to make it harder to conduct class action lawsuits from shareholders based on continuous disclosure laws, but the Senate Crossbench will be fertile ground for a fear campaign

Shares of Rio Tinto, due to release results this afternoon, rose 36 percent to $ 12747 BHP shares closed 34 percent higher at $ 4860

Lynas shares rose sharply after reports that China is considering restricting exports of rare earth products Lynas shares jumped 134 percent to $ 611

Westpac shares closed 46 percent higher, rising to $ 2354 after the bank posted cash earnings of $ 2 billion in the first quarter. Coles shares fell 54 percent to $ 1720 on its first half results release >
EML Payments shares rose 164 percent to $ 490 and Domino’s Pizza added 76 percent to close at $ 105

At the start of a new commodity super cycle, dividend records could fall as the large diversified miners make optimal use of rising commodity prices BHP alone could generate dividends of 59 billion by the end of 2023/24 USD (76 billion USD), based on the forecasts of the broker UBS

A rebound in global growth and a series of infrastructure-focused stimulus packages will keep demand for commodities strong as the rest of the world turns to China to fuel commodity-dependent investment

The risk of rising inflation and the weaker US dollar will be equally positive. In an inflationary environment, commodity producers are price makers

However, unlike the previous super cycle, the sector is starting with underinvestment As Glencore boss Ivan Glasenberg said on Tuesday: “The difference with 2002 is that we are not ready for it”And although they weren’t ready for it in 2002, the projects were thereâ ????

The volume of stocks traded in Hong Kong has risen to four times the volume on London’s main stock exchange, as large technology and health stocks fueled an increasing appetite for the Nasdaq of Asia among overseas investors ?

Trading volume in Hong Kong also hit nearly 60 percent of the New York Stock Exchange, as investors, mostly from China, poured around $ 50 billion into stocks listed on the Asia Finance Hub this year

Average daily turnover on the former British colony’s stock exchange increased for the 30 days to March 16 February, according to calculations by the Financial Times based on Bloomberg data, to about 25 billion US dollars, compared to about 10 billion US dollars in the US at the same time a year ago

That is more than four times the average daily turnover on the London Stock Exchange in the same period earlier this month, London lost its crown as Europe’s largest equity trading center to Amsterdam The average daily turnover on the NYSE was 44 billion US dollars

The bumper hit Hong Kong this month was $ 5 billion listing of the Chinese viral video app and TikTok competitor Kuaishou, the world’s largest IPO since Uber in 2019

Macquarie says Appens underperformance will continue into the second half of fiscal 2020 due to increased competition through 2021 as the company suffers from a change in the competitive landscape

The broker has lowered its target price from $ 2700 to $ 1900 and downgraded the stock to underperformance as it was expected that other brokers could follow suit soon

“Aside from the FY20 results, which are unlikely to be an event, the road has not properly assessed the increased competitive landscape Appen is now facing,” said Macquarie analyst Wei Sim

The broker said there have been structural changes in the competitive landscape and price pressures will soon follow

“The increasing competition from 2H20 leads us to believe that year-over-year headwinds will persist at least into 1H21 before growth rates normalize, albeit at a lower level”said Mr. Sim

???? Growing competition has been dampened in part by higher demand, but the increase in supply has outpaced demand Pricing is not yet a lever to differentiate between outsourced solutions, but as competition intensifies in 2021, we see a downside risk to road sales projections if so comes into playâ ????

The suspended FAR Limited has received an unconditional, non-binding indicative takeover proposal from Lukoil, one of the world’s largest publicly traded energy companies

The offer is prior to a meeting at which FAR shareholders should consider an offer from Woodside Petroleum to acquire their stake in the Sangomar project

FAR has the annual general meeting on 18 February should take place, postponed to clarify the status of the Lukoil proposal

Lukoil said it was open to providing funding options to allow FAR to default on the RSSD project’s default cash call settings

FAR is behind on its January 2021 cash call of $ 19 million FAR is also behind on its February 2021 cash call of $ 24 million

FAR has until mid-July 2021 to fix failures or lose interest in the RSSD project

After a notable 160 percent rally to yesterday’s closing price, Zip Co’s shares pulled back on the decline in most installment providers and the tech sector

The S&P / ASX All Technology Index is 17 percent lower with a 126 drop for Zip Co to $ 12, 16 leading the declines

Zip Co’s equity is worth 12, 3 percent less than yesterday’s close of market for shares trading at $ 1221

Buy stocks now, pay later Junior Sezzle are also significantly lower, sliding 111 percent to $ 1022

Nick Maclean is a portfolio manager at Surrey Asset Management, ranked second in Mercer’s 2020 survey of fund manager performance in the emerging Australian equity class

We recently expanded our position at Betmakers to meet our desire for high quality exposure to the US betting and gaming market

Most importantly, it is also supported by Tom Waterhouse, who has a proven track record of starting and growing online betting businesses and, as recently announced, is investing arguably leading Australian online betting company Matt Tripp as a major shareholder of US $ 25 million – Dollars in his own capital and as the company’s exclusive strategic advisor

While the stock has performed well, and world-class operators and our U.S. betting market predictions recommend the company to grow to over $ 15 billion over the next five years, we see plenty of upside should the company go continue to successfully implement his strategy

Pointsbet has added the NHL to its US partnerships. Will it be able to take a leading position in the US sports betting market?

Yes, we do. We’re measuring state-to-state market share in the US as they roll out on their platform in stages

Rio Tinto could improve dividend surprises in earnings season when reporting later that afternoon, according to broker UBS, which finds 43 percent of the ASX 100 companies that have reported so far have beat earnings expectations

The reporting season has improved earnings per share for 2020-21 by 2.1 percentage points already (up to 288 percent)

But it’s dividends that are the bright spot thanks to finance and resources. Revisions to the financial dividend per share since the start of the reporting season have risen 6 percentage points and resources have risen 51 percent

Consensus estimates don’t expect a return to pre-COVID-19 dividends until after 2022-23. “We believe the DPS outlook will be much better than consensus expects,” the broker

said

Labor has beaten the national broadband company for wasteful premiums and has asked the Morrison government to explain

The move shows, as reported, the “dangers associated with Beijing’s dominance,” says an industry player

Newmark Capital has entered into an agreement to acquire a three-tier bunnings in north Melbourne that is building up on a slope of an ASX float

Corporate Australia is relieved by the decision to make it harder to conduct class action lawsuits from shareholders based on continuous disclosure laws, but the Senate Crossbench will be fertile ground for a fear campaign

Rio Tinto, iron ore, dividend

News – AU – Rio Tinto receives a special dividend of US93
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Source: https://www.afr.com/markets/equity-markets/asx-to-ease-rio-coles-results-ahead-20210217-p5736d