Rio Tinto completes USD1.5bn share buy-back

Rio Tinto has successfully completed its USD1.5-billion buy-back of Rio Tinto plc shares.

Rio Tinto

The shares comprised of the USD500-million and USD1-billion on-market share buy-back programmes announced in February and August 2017.

“We continue to demonstrate our commitment to deliver superior returns for our shareholders,” says J-S Jacques, Rio Tinto chief executive.

Rio Tinto will commence a further USD1.925-billion on-market buy-back of Rio Tinto plc shares, to be completed no later than 31 December 2018. During 2017 Rio Tinto announced cash returns to shareholders of USD8.2-billion, comprising USD4.2-billion of dividends and USD4-billion of share buy-backs.

“Our world-class assets, complemented by a strong balance sheet and disciplined capital allocation process, have provided the base for these cash returns. Just as importantly, the business is positioned for continued superior shareholder returns in the short, medium and long term,” concludes Jacques.

* Image credit: Rio Tinto


 

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