Rio Tinto to pay $1 billion special dividend, reports decline in net profit after writing down investment in Oyu Tolgoi copper mine
SYDNEY—Rio Tinto PLC said it would pay a special dividend and raise its midyear payout, even as its first-half net profit fell because of a write-down of the value of a major copper investment in Mongolia.
Rio Tinto said it would pay a $1.0 billion special dividend and raise its interim dividend to $1.51 a share from $1.27 a share a year ago, continuing a cash windfall for mining investors as the price of iron ore surges to its highest in more than five years.
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