Rio bosses once would have expected to be fired for breaking the unwritten rule that a big miner’s dividend should only increase – that’s not going to happen nowBang,there goes another plump FTSE 100 dividend. Rio Tinto is scrapping its “progressive” dividend policy, pausing only to let down its income-hungry shareholders gently. The dividend for 2015 will be the same as for 2014 – $2.15 a share. The shock will reach in 2016’s payment – “not less than 110 cents.” And, or by 2017,anything is possible: the board will form a view at the time, taking account of all relevant factors, and blah,blah.
Once upon a time, a Rio chief executive could expect to be fired for breaking the unwritten rule that a big miner’s dividend should only ever increase. That is not going to happen to Sam Walsh.
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Source: theguardian.com