Fortescue Group Ltd (“Fortescue”), which is listed on the Australian ASX, is an Australian iron ore company and is the fourth biggest iron ore producer in the world. Fortescue have recently announced it would pay out US$8 billion in dividends as it recorded record iron ore shipments and net profit after tax. Boosted by demand from China’s economy and the rise in price of iron ore, Fortescue is said to have shipped 182.2m tonnes of iron ore during its 2020-2021 fiscal year. The chief executive of Fortescue stated that this was a “a second consecutive year of record performance with shipments, earnings and operating cash flow surpassing any year in Fortescue’s history.”
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