Fortescue Set to Pay A$0.62 Dividend as Macquarie Upgrade Pushes Shares Back Above A$20
Fortescue Ltd’s A$0.62 interim dividend lands Monday, with the miner’s stock holding above A$20 after Macquarie bumped its rating to outperform. Friday’s close: A$20.19, per the company’s investor page. MarketIndex attributed the 1.7% gain to Macquarie’s move and its new A$22 target for the shares. The payout’s timing is drawing attention. Fortescue, still among Australia’s top income plays and a pure iron ore exposure, is delivering cash just as investors weigh China’s appetite for the commodity and wrestle with the potential for even pricier fuel if Middle East turmoil keeps oil and diesel high.