Rio Tinto (ASX:RIO) share price on watch after announcing special dividend

The Rio Tinto Limited (ASX: RIO) share price will be one to watch closely on Thursday.

This afternoon the mining giant released its full year results after the market close.

How did Rio Tinto perform in FY 2020?

For the 12 months ended 31 December, Rio Tinto reported a 3% increase in sales revenue to US$44,611 million. This was driven entirely by its iron ore operations, which offset lower revenues across other key commodities.

Iron ore revenue came in 13.4% higher year on year at US$29,202 million. Whereas Aluminium, Alumina, and Bauxite revenue fell 10% to US$9,146 million, Copper revenue dropped 11.8% to US$1,785 million, and Industrial minerals revenue fell 8.4% to US$2,051 million.

Positively, margin expansion led to the…