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Fortescue mulls dividend boost amid higher margins, iron ore prices

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Fortescue mulls dividend boost amid higher margins, iron ore prices

Fortescue Metals Group Ltd. CEO Nev Power indicated that the miner is likely to increase shareholder returns thanks to strong margins and higher iron ore prices, the Australian Associated Press reported Aug. 8.

"We flagged at the time of the interim dividend that we would be reviewing the payout ratio at the time of final dividend. The board will consider this in two weeks," Power was cited as saying on the sidelines of the Diggers and Dealers conference in Western Australia.

The company will release full-year results Aug. 21.

The iron ore miner proposed an interim dividend of 20 Australian cents per share in February, representing a payout ratio of 38% of the net profit.