Record Dividends to be paid by Global Mining Companies
Following rising market valuations and increasing commodity prices, shareholders of global mining companies are in line for record dividend payments. Both BHP and Rio Tinto, the world’s two largest mining companies, shattered their dividend records with BHP announcing an interim dividend totaling US$5.1 billion and Rio Tinto announcing a total payout to shareholders of more than US$9 billion in 2020. The record-high dividend payments follows soaring raw material prices. Iron ore and copper rose by around 85% and 80% respectively in 2020, both reaching nine-year highs in terms of price per ton.
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