Forrest in $654m payday from surprise Fortescue dividend

Original article by Brad Thompson, Lucas Baird
The Australian Financial Review – Page: 17 & 22 : 15-May-19

Pure-play iron ore miner Fortescue Metals Group will pay a fully franked dividend of $0.60 per share on 14 June, ahead of possible changes to the franking credits regime if Labor wins the federal election. Fortescue chairman Andrew Forrest will earn $654m in dividend payments from his 35 per cent stake, lifting his total payout for 2018-19 to $981m. Fortescue has previously paid an interim dividend of $0.19 per share and a special dividend of $0.11 per share. CEO Elizabeth Gaines say Fortescue will continue to pay fully franked dividends, regardless of any change in government policy.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, AUSTRALIAN LABOR PARTY, JP MORGAN AUSTRALIA LIMITED, SHAW AND PARTNERS LIMITED

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