Ann: Change of Director's Interest Notice, page-5

Some commentary regarding  AF buying.


Forrest tightens grip on Fortescue




Billionaire Andrew Forrest has stumped up $117 million to boost his hold on iron ore giant Fortescue Metals.

Mr Forrest, the chairman of Fortescue, now owns 35.22 per cent of the miner after paying $117.5m to acquire an extra 30 million shares. He previously held 33.87 per cent of the company which he founded.

Mr Forrest received a $239m dividend payout for the 2018 financial year, the second largest since the company began capital returns to shareholders in 2011. Since 2011, Mr Forrest has received franked dividends of $1.3bn.

Fortescue’s full-year dividend was down 49 per cent on 2016-17’s record 45 cents a share, when Mr Forrest received a $467m payout. But the 2017-18 payout ratio of 62 per cent was well up on the previous year’s 52 per cent, in recognition that the company has met targeted gearing levels and would return more surplus cash to investors.