Feb 22 (Reuters) - Rio Tinto (RIO) reported a 37.9% drop in annual profit and more than halved its dividend payout on Wednesday, as iron ore prices fell on slower demand, particularly from top consumer China, while higher labour and material costs also ate into earnings.
The company, one of the world's top iron ore producers, reported underlying earnings of $13.3 billion for 2022, compared with a record $21.38 billion in 2021 and a Refinitiv estimate of $13.81 billion.
It declared a full-year dividend of $4.92 per share, down from 2021's record payout of $10.40 per share. (([email protected]; Twitter: https://twitter.com/damnit_saladin;))
News: RIO Rio Tinto annual profit falls 37.9%
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