Fortescue Metals Group (FMG) Hits New 12-Month High After Dividend Announcement

Fortescue Metals Group Limited (ASX:FMG) shares reached a new 52-week high during trading on Thursday following a dividend announcement from the company. The company traded as high as A$8.43 ($5.98) and last traded at A$8.40 ($5.96), with a volume of 18103164 shares. The stock had previously closed at A$8.14 ($5.77).

The newly announced dividend which will be paid on Friday, June 14th. Shareholders of record on Friday, June 14th will be given a $0.60 dividend. This represents a yield of 7.37%. This is an increase from Fortescue Metals Group’s previous Interim dividend of $0.30. The ex-dividend date is Wednesday, May 22nd. Fortescue Metals Group’s dividend payout ratio is 114.81%.

The stock has a market capitalization of $27.54 billion and a price-to-earnings ratio of 33.15. The company has a debt-to-equity ratio of 40.04, a current ratio of 1.36 and a quick ratio of 0.89.

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About Fortescue Metals Group (ASX:FMG)

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

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