Fortescue’s Half Year Result 15 Feb 23: Payout ratio creeps lower

Iron ore miner Fortescue Metals Group (FMG) has reported a 15% fall in first half profit reflecting higher costs and moderating iron ore prices, which were balanced by record shipments for the period. While the dividend was broadly in line with expectations, the dividend payout ratio slipped to 65% of earnings compared to 70% in the same period  last year.

 

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