RIO, BHP, FMG: 3 ASX-listed mining stocks with best dividend yield

May 17, 2022 06:37 PM AEST | By Priyanka Payal
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  • The S&P/ASX 300 Metals and Mining Index (ASX:XMM) was up 1.310% at 5606.100 points at 3:58 PM AEST today.
  • The shares of major miners Rio Tinto, BHP Group Limited, and Fortescue Metals Group Limited traded in the green on Tuesday.

Taking forward yesterday’s gains, the Australian share market opened on a positive note today. The benchmark index was up 0.318% at 7115.600 points at 3:49 PM AEST today (17 May 2022).  Energy, Utilities and the Materials sector were the top performers at one point during today’s intraday trading session.

Australia is predominantly a mining country and the mining sector contributes significantly to the country’s economy. In the quarter ending September 2020, the gross operating profit of firms involved in the mining industry in the country was nearly AU$35.53 billion. 

The S&P/ASX 300 Metals and Mining Index (ASX:XMM) was up 1.310% at 5606.100 points at 3:58 PM AEST today. Market investors mostly find high dividend offering stocks more attractive when it comes to investment. In this article, we will talk about three ASX-listed mining stocks offering the best dividend yield for the current month. The three stocks are - Rio Tinto (ASX:RIO), BHP Group Limited (ASX:BHP), and Fortescue Metals Group Limited (ASX:FMG).

In this article we will look at these mining companies in detail, but before this, it is important to understand the meaning of a trailing yield. The term trailing yield refers to the yield one must have received had they owned a company (here ASX 200 mining shares) prior to the ex-dividend date for all of the previous year’s dividend payouts. One must remember that dividend payouts are not always sustainable. This means that if any ASX-listed mining stock witnesses a fall in its revenues, its dividend payout is also likely to fall. 

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The three mining companies mentioned above - Rio Tinto, BHP Group Limited, Fortescue Metals Group Limited  -  had gross dividend yields of 14.7%, 14.9%, and 21.90%, respectively, as of yesterday (16 May 2022). 

In this backdrop, let us discuss these three mining stocks one by one.

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Rio Tinto (ASX:RIO):

The share price of the world's leading iron ore mining giant Rio Tinto (ASX:RIO) was up 2.174% at AU$106.670 per share on ASX at 4:11 PM AEST today. The four segments via which the miner operates include Aluminum, Iron Ore, Copper and Minerals. As of today, Rio Tinto has a market capitalisation of AU$38.75 billion. In the last 12 months, Rio Tinto shares have fallen 17.12%, while the stock is up 7% year-to-date (YTD).  The miner pays a fully franked dividend yield of 14.70%

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BHP Group Limited (ASX:BHP)

The shares of BHP Group Limited traded 0.551% higher at AU$45.560 per share on ASX at 3:35 PM AEST today. The ASX-listed company is engaged in the mining of Copper and Iron ore and has a market capitalisation of AU$229.37 billion. The company's share price has performed considerably well lately, as the iron ore prices surged recently due to lockdown curbs in China. 

BHP shares have fallen 9.82% over the last one year, while the stock is up 7.50% YTD. The company pays a fully franked dividend yield of 14.90%. 

Fortescue Metals Group Limited (ASX:FMG)

The ASX-listed iron ore company offers a dividend yield of 21.9%, 100% franked. Today, Fortescue Metals' shares were spotted trading 2.267% higher at AU$19.390 per share on ASX at 4:11 PM AEST. The company has a market capitalisation of AU$58.37 billion. The share price of Fortescue Metals Group has lost 17.73% in the past 12 months, while the stock is down 2.32% YTD.

 The company's iron ore shipments for Q3 FY22 stood at 46.5 million tonnes (mt), 10% higher than Q3 FY21.

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