Rio Tinto PLC (NYSE:RIO) Declares $2.11 Dividend

Rio Tinto PLC (NYSE:RIO) declared a dividend on Wednesday, July 29th. Shareholders of record on Friday, August 14th will be paid a dividend of 2.11 per share by the mining company on Thursday, September 24th. This represents a yield of 438.0%. The ex-dividend date of this dividend is Friday, August 14th.

Rio Tinto has decreased its dividend by an average of 0.0%annually over the last three years. Rio Tinto has a dividend payout ratio of 81.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Rio Tinto to earn $9.16 per share next year, which means the company should continue to be able to cover its $5.04 annual dividend with an expected future payout ratio of 55.0%.

Rio Tinto Trading Up 2.9%

Shares of Rio Tinto stock traded up $2.72 during trading hours on Thursday, hitting $96.38. 1,871,629 shares of the company’s stock traded hands, compared to its average volume of 3,218,591. The stock has a 50 day simple moving average of $97.84 and a 200-day simple moving average of $96.02. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto has a twelve month low of $58.40 and a twelve month high of $112.58.

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.