Jakob Stausholm will need more than record shareholder payouts to catch up with rival Mike Henry. The new Rio Tinto , chief executive announced a bumper $17 billion dividend for 2021 on Wednesday thanks to soaring iron ore prices. However, at 4.4 times this year’s expected EBITDA, the $128 billion group’s valuation lags Henry’s BHP , which is currently trading on nearly 5 times. Rio’s cultural problems may explain some of the lag.
Editing by George Hay and Karen KwokReuters Breakingviews is the world's leading source of agenda-setting financial insight.
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