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Rio Tinto H1 Net Profit Declines; Announces $3.5 Bln Interim Returns

Rio Tinto plc (TPPF.PK,RIO.L, RIO, RTNTF.PK) reported first-half net earnings of $4.1 billion, down 6% from prior year, due to the impairment of Oyu Tolgoi. Earnings per share in cents was 250.7 compared to 249.9. Underlying EBITDA was $10.3 billion, up 19% from prior year, excluding the $0.6 billion contribution from coking coal. The increase reflected higher iron ore prices, the company said. Basic underlying earnings per share in cents was 301.5 compared to 253.6.

First-half consolidated sales revenue was $20.7 billion, an increase of 9% from prior year, excluding the $0.8 billion contribution from the coking coal assets divested in 2018.

The company's 2019 production guidance is unchanged from its second quarter operations review.

Rio Tinto also announced returns to shareholders of $3.5 billion including interim
dividend of $2.5 billion and special dividend of $1.0 billion. The 2019 interim dividend, equivalent to 151 US cents per share, and the special dividend, equivalent to 61 US cents per share, will be paid on 19 September 2019 to shareholders on the register at the close of business on 9 August 2019.

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