Rio Tinto commences $1.925B on-market share buy-back

Company News

by Jessica Ellerm

Rio Tinto (ASX:RIO) has announced that as of today it has commenced a $1.925 billion on-market buy-back of Rio Tinto shares, to be completed no later than 31 December 2018.

The mining giant has also successfully completed its $1.5 billion buy-back of Rio Tinto shares.

The buy-back consisted of the $500 million buy-back program announced in February 2017, and the $1 billion program made public in August 2017.

Chief Executive J-S Jacques said the buy-backs demonstrate the continued commitment from the business to deliver superior returns to shareholders.

Rio Tinto (ASX:RIO) was trading around 0.31 % lower this morning at $74.05.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.