Fortescue to pay record dividend as miner's profit doubles

Sydney

WORLD number four iron ore miner Fortescue Metals Group said on Monday that it will pay a record-high final dividend after more than doubling its annual profit, and plans to give more of its profits to shareholders in the future.

The Australian mining company also signalled that it was diversifying outside its core Chinese market to sell iron ore to buyers in emerging Asian countries and Europe.