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Rio Tinto HY Profit Down; Lifts Dividend - Quick Facts

Anglo-Australian mining giant Rio Tinto Plc (RTNTF,RIO,RIO.L, RTPPF) reported that its profit attributable to owners of the company for the six months period ended 30 June 2020 declined to US$3.32 billion or 203.6 cents per share from US$4.13 billion or 250.7 cents per share in the prior year.

But, profit after tax for the period grew to US$3.45 billion from US$2.93 billion in the previous year.

Underlying earnings decreased 4% to US$4.75 billion from US$4.93 billion in the previous year.

Underlying EBITDA was $9.6 billion, down 6% from last year, primarily due to lower prices for aluminium and copper.

Consolidated sales revenue for the period declined to US$19.36 billion from US$20.72 billion in the prior year.

The company has declared an interim dividend of US$2.5 billion or 155 US cents per share, 3% higher than 2019 first half.

The company has reconfirmed its 2020 production guidance across all commodities.

Capital expenditure expected to be around US$6 billion in 2020 and around US$7 billion in both 2021 and 2022. The three year cumulative spend of US$20 billion is unchanged from the original guidance issued in October 2019.

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