Fortescue Ltd
FMG: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$48.10 | Nbqx | Qgqxfsg |
Fortescue Earnings: Bumper Dividend but Can the Good Times Last?
A monster AUD 1.08 per share fully franked dividend was the highlight of no-moat Fortescue’s first half of fiscal 2024, up 44% on last year’s AUD 0.75 per share interim payout. The dividend boost largely reflects higher earnings with net profit after tax rising 41% to USD 3.3 billion, or USD 1.08 per share. Depreciation of the Australian dollar provided a modest benefit to the Australian dollar dividend, with the payout ratio steady at 65% of USD earnings.