Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 37

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 37
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 business and the company’s objective of maintaining a strong balance sheet. The intention is that the balance between the interim and final dividend be weighted to the final dividend. The Board expects total cash returns to shareholders over the longer term to be in a range of 40% to 60% of underlying earnings in aggregate through the cycle. Acknowledging the cyclical nature of the industry, it is the Board’s intention to supplement the ordinary dividend with additional returns to shareholders in periods of strong earnings and cash generation. Nine-year track record of 60% payout on the ordinary dividend, at top end of range

|                                   | 2024US$bn | 2023US$bn |
| Ordinary dividend                 |           |           |
| Interim⁽ª⁾                        |       2.9 |       2.9 |
| Final⁽ª⁾                          |       3.7 |       4.2 |
| Full-year ordinary dividend⁽ª⁾    |       6.5 |       7.1 |
| Payout ratio on ordinary dividend |       60% |       60% |

(a) Based on weighted average number of shares and declared dividends per share for the respective periods and excluding foreign exchange impacts on payment. Financial figures are rounded to the nearest $100 million, hence small differences may result in the totals. As announced on 26 July 2024, we determine Rio Tinto plc and Rio Tinto Limited dividends in US dollars, our reporting currency. Historically, we have declared and announced these dividends in pounds sterling and Australian dollars, respectively. However, following changes to Rio Tinto Limited’s constitution approved by shareholders in 2024, we now declare and announce dividends in US dollars.

| Ordinary dividend per share declared |  2024 |  2023 |
| Interim (US cents)                   | 177.0 | 177.0 |
| Final (US cents)                     | 225.0 | 258.0 |
| Full-year (US cents)                 | 402.0 | 435.0 |

The 2024 final ordinary dividend to be paid to our Rio Tinto Limited shareholders will be fully franked. The Board expects Rio Tinto Limited to be in a position to pay fully franked dividends for the foreseeable future. On 17 April 2025, we will pay the 2024 final ordinary dividend to holders of Rio Tinto plc and Rio Tinto Limited ordinary shares and holders of Rio