Business
Rio Tinto raises dividend, sees ‘V-shaped’ China recovery – MINING.com
Miner boosted dividend payments despite a 4% fall in half-year earnings.
Rio reported a net profit of $3.32 billion in the six months through June, down from $4.13 billion in the same period a year earlier. (Adobe Stock)
Rio Tinto (NYSE: RIO) said on Wednesday it saw a sharp V-shaped recovery in China as stimulus spurred industrial activity, helping its first-half profit handily beat market expectations.
“We believe that China has enjoyed a very steep V-shaped recovery,” CEO Jean-Sébastien Jacques said in a call.
“Today we see it as that the demand for steel and …
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