Own Rio Tinto shares? It’s time to dig into your dividends

The ASX may be closed today. But that doesn’t mean investors can’t enjoy some returns from their ASX shares. So let’s talk about the Rio Tinto Limited (ASX: RIO) dividend.

Amongst all of the ASX dividend shares that have paid out shareholder income this year, none have arguably been as exciting as resource shares like Rio. The past year or so has seen record high commodity prices. Oil, coal, and gas have all seen massive gains. As have other commodities like iron ore.

This has translated into massive dividend payments from mining and drilling giants like BHP Group Ltd (ASX: BHP), Woodside Energy Group Ltd (ASX: WDS), and, of course, Rio Tinto.

Rio revealed its FY22 full-year earnings report back in July. In this, the miner declared an interim, fully franked dividend of US$2.76 per share. That’s $3.837 in our dollars. Rio shares traded ex-dividend for this payment back on 11 August. And investors will be receiving the paycheque very soon.

The Rio Tinto dividend is inbound

The original payment date was set for today, 22 September. But the public holiday today commemorating the death of Queen Elizabeth threw a spanner in the works. Last week, Rio told investors that the dividend pay date is still today. However, it added the following:

Due to the National Day of Mourning declared by the Australian Federal Government to commemorate Queen Elizabeth II, 22 September 2022 is now a non-business day for banking and ASX purposes.

As a result, payments for Rio Tinto Limited shareholders who have elected to receive their dividends via direct credit in Australian dollars will be processed on 21 September 2022.

So perhaps investors will still receive their cash today. But due to the holiday, many investors might have gotten a one-day early mark for their money, and seen the money come in yesterday. It’s also possible that for some investors, the cash will arrive tomorrow.

We do know for sure that any additional shares to be distributed under Rio’s optional dividend reinvestment plan (DRP) will be issued tomorrow.

Whatever happens, it’s certainly a good week for Rio Tinto investors.

At yesterday’s closing Rio Tinto share price, this ASX 200 mining giant had a dividend yield of 10.53%

The post Own Rio Tinto shares? It’s time to dig into your dividends appeared first on The Motley Fool Australia.

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More reading

• $18 billion of ASX dividends are being paid out this week. Here’s the lowdown
• Why China’s slowdown isn’t as bad as it looks for ASX 200 mining shares
• Down 19% since June, where to next for the Rio Tinto share price?
• Could the latest news out of China bode well for ASX 200 iron ore shares?
• Hanging out for your Rio Tinto dividend? Here’s the latest

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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