Forrest reaps $1bn in dividends

Original article by John Stensholt, Nick Evans
The Australian – Page: 17 & 20 : 27-Aug-19

Fortescue Metals Group has posted a record net profit of $US3.2bn ($4.7bn) and revenue of $US10bn for 2018-19. The pure-play iron ore miner’s net debt was $US2.1bn at the end of the financial year, while its cash holdings totalled $US1.9bn. Shareholders will receive a final dividend of $0.24 per share and a full-year payout of $1.14 a share. Fortescue chairman Andrew Forrest will be paid $1.24bn in dividends for the full year, including about $261m from the final dividend. Fortescue expects its iron ore shipments for 2019-20 to be within the range of 170-175 million tonnes, at an average price of $US13.25-$US13.75 per tonne.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA

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