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Breakingviews - Rio’s black marks obscure its dividend dazzle

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Jakob Stausholm will need more than record shareholder payouts to catch up with rival Mike Henry. The new Rio Tinto , chief executive announced a bumper $17 billion dividend for 2021 on Wednesday thanks to soaring iron ore prices. However, at 4.4 times this year’s expected EBITDA, the $128 billion group’s valuation lags Henry’s BHP , which is currently trading on nearly 5 times. Rio’s cultural problems may explain some of the lag.

Editing by George Hay and Karen KwokReuters Breakingviews is the world's leading source of agenda-setting financial insight.

As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

 

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