News: Alumina to receive $26M dividend

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Alumina Limited (ASX:AWC) will gain a fully-franked dividend of $US26 million from its interest in the Alcoa World Alumina & Chemicals joint venture.



Alumina holds a 40 per cent interest in the venture, with the remaining 60 per cent interest held by Alcoa (ASX:AAI). Alcoa Incorporated (NYSE:AA), today rebounded to a first quarter net profit.



Alumina has advised today the Alcoa World Alumina & Chemicals joint venture has been impacted by lower aluminium and alumina prices and a strong Australian dollar, but partially offset by continued productivity gains.



Alumina’s net profit surged 266 per cent to $125 million in the 2011 financial year.