UPDATE 2-Rio Tinto announces new $3.2 billion share buyback, stock rises [Reuters]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Reuters
Rio Tinto announces new $3.2 billion share buyback, stock rises | Reuters 4 Min Read (Reuters) - Global miner Rio Tinto will return $3.2 billion to shareholders from its sale of Australian coal assets this year in addition to existing buyback programs, it said on Thursday. The news helped to drive Rio Tinto’s London share price ( RIO.L ) nearly 2 percent higher by 0927 GMT and pushed up the Australian listing ( RIO.AX ) by 3.5 percent. Across the mining sector, a trend to hand money back to shareholders has gathered steam following a recovery from the mining and commodity crash of 2015-16 and pressure from investors not to waste growing piles of cash on buying up assets that may never deliver returns. In its latest move, Rio Tinto, which has already returned more money to shareholders than its peers, said it will conduct an off-market share buyback for up to 41.2 million shares in its Australian entity Rio Tinto Ltd, worth about $1.9 billion, and further on-market purchases of Lon
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- Rio Tinto donates $1.5 million to support the people and community of Grindavík in IcelandBusiness Wire
- Rio Tinto Group (NYSE: RIO) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating.MarketBeat
- Rio Tinto releases first quarter production results [Yahoo! Finance]Yahoo! Finance
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- 4/16/24 - Form SD
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- 1/25/24 - Form SC
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