Billionaire Andrew Forrest will take home total dividends worth $2.34b for the past year after Fortescue declared a bigger than expected shareholder return.
Fortescue chairman and major shareholder Andrew Forrest will take home more than $2.34 billion worth of dividends for the past year after the iron ore miner announced better-than-expected profits and dividends.
Fortescue shareholders will receive a $1.21 per share final dividend after a $US6.19 billion profit. Analyst consensus measured by VUMA was pointing to a final dividend of about $1.11 per share and a $US6.13 billion profit. Combined with February’s 86¢ interim dividend, shareholders will receive a total of $2.07 per share for the year.
Monday’s full-year results presentation will be the last of Elizabeth Gaines’ time as Fortescue chief executive and the company will in future have a chief executive of its minerals division that reports to the board and a chief executive of its clean energy division which also reports directly to the board.“They will be brother and sister in the same family, or brother and brother in the same family.
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