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Rio Tinto Profit Falls 14% With Output Up, Dividend Kept at 60% Payout

Investors weigh strong cash generation against a profit decline following a fatal incident under investigation.

Overview

  • The miner posted US$9.966 billion in after-tax profit for 2025 (A$14.1 billion), a 14% decline from the prior year.
  • Sales revenue rose 7% as net underlying earnings were flat, with underlying EBITDA up 9% to US$25.4 billion and operating cash flow at US$16.8 billion.
  • Copper production increased 8% on the Oyu Tolgoi underground ramp-up, and Western Australian iron ore operations achieved record volumes.
  • The board maintained a 60% payout ratio, declaring a US$6.5 billion ordinary dividend, including a fully franked final dividend of US$2.54 per share payable on 16 April.
  • A worker’s death at the Simandou project prompted a CEO-pledged investigation, and Rio Tinto shares fell about 4% earlier in the week.