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Rio ups its buyback plans

The Anglo-Australian miner is to retire a further $1bn of its shares in 2017
August 3, 2017

Half-year earnings for Rio Tinto (RIO) failed to match consensus analyst forecasts, but income-seeking shareholders are unlikely to be disappointed. In addition to the largest interim dividend in its history, the diversified miner used its interim figures to announce a further $1bn (£758m) of planned share buybacks for 2017, equivalent to an extra 56¢ per share.

IC TIP: Buy at 3444p
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