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Thoughts on FMG dividend

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Thoughts on FMG dividend

Hi A couple of weeks ago there was a comment in the email of a rumour suggesting that the FMG dividend could be $1.92. That seemed a bit optimistic (although it would have been fantastic if true) but even so, todays $0.86 a share was a bit underwhelming but probably about right (as suggested in the afternoon note) considering how the iron ore price fared in 2H22. How could the two figures be so far out of whack? Cheers, Carl

Answer

Hi Carl,

Fortescue Metals Group (FMG) $21.04: Rumours are just that and something we never invest / trade on, the dividend actually came pretty much in line with consensus market expectations but there are always outliers in the analyst community, we actually thought they would print a higher number based on our analysts view. Being non-consensus (and right) will always make you more money than being inline with consensus and right.

Overall we still see FMG back into the $19-20 region in the coming weeks.

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Fortescue Metals (FMG)
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