Rio Tinto’s results overlooked
Rio Tinto Limited (ASX: RIO) announced its full year results on Wednesday, reporting an interim underlying profit of US $3.9 billion, driven by its iron ore division. The profit was a 286% increase on the previous year, but was slightly below market expectations. The company also announced its record interim dividend of US $1.10, its largest ever interim dividend. Rio Tinto shares closed up 1.6% for the week. We believe the market's response is an overreaction and we see the prospect of capital management in the near to mid term. We own Rio Tinto as a market-driven investment in WAM Leaders and Century Australia.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Matthew has more than 20 years’ experience in the investment industry working as both a portfolio manager and analyst. Prior to joining Wilson Asset Management in 2004, Matthew gained extensive large-cap experience in his previous role within Australian Executor Trustees (now part of Equity Trustees). Matthew is the Lead Portfolio Manager responsible for WAM Leaders Limited, Wilson Asset Management Leaders Fund, and Wilson Asset Management Founders Fund.
Comments
Comments
Sign In or Join Free to comment