Rio Tinto rewards shareholders with record dividend

SYDNEY (AFP) – Rio Tinto rewarded shareholders Wednesday with a record dividend as the mining giant reported a bumper annual net profit of US$8.76 billion in 2017, a 90 percent jump as commodity prices strengthened. The Anglo-Australian firm had posted US$4.62 billion in annual profit in the previous financial year, turning around a loss in 2015 when key metals prices slumped and the growth in Chinese demand slowed. “The strength of our cash flow is a result of resilient prices during the year coupled with a robust operational performance and a focus on mine to market productivity,” chief executive Jean-Sebastien Jacques said in a statement.