Fortescue Ltd (FMG)
Hi guys Your thoughts on fmg and as they are reporting soon do you have any idea of what the dividend is expected to be Thanks Tony
Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi guys Your thoughts on fmg and as they are reporting soon do you have any idea of what the dividend is expected to be Thanks Tony
Hi Tony,
FMG recently reported record fourth-quarter iron ore shipments of 55.2 million metric tons and a full-year total of 198.4 million metric tons, surpassing analyst expectations. Additionally, Fortescue achieved lower unit costs, the lowest since 2020, and announced the cancellation of its green hydrogen projects in Arizona and Gladstone.
However, we wouldn’t be surprised to see a slight beat considering the firm iron ore price and solid operational performance. On current projections, FMG is yielding ~5% fully franked.
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