Alumina Limited
(ASX:AWC) will gain a fully-franked dividend of $US26 million from its interest in the Alcoa World Alumina & Chemicals joint venture.
Alumina holds a 40 per cent interest in the venture, with the remaining 60 per cent interest held by Alcoa
(ASX:AAI). Alcoa Incorporated (NYSE:AA), today rebounded to a first quarter net profit.
Alumina has advised today the Alcoa World Alumina & Chemicals joint venture has been impacted by lower aluminium and alumina prices and a strong Australian dollar, but partially offset by continued productivity gains.
Alumina’s net profit surged 266 per cent to $125 million in the 2011 financial year.
