27th Oct 2006 07:02
Rio Tinto PLC27 October 2006 Rio Tinto increases capital management programme to US$7 billion Rio Tinto has announced today that it will increase its capital managementprogramme to US$7 billion. This is US$3 billion more than the previouslyannounced capital management programme for 2006 and 2007 of US$4 billion. Theadditional cash return will be made through the buyback of shares between nowand the end of 2007. Rio Tinto's finance director Guy Elliott said, "In today's favourable markets,the Group's high quality assets are generating record cash flows. This allows usto make substantial investments in the growth of the business and to return cashto shareholders. Our balance sheet remains strong, and we are pleased to makethis increase in our capital management programme. Of course the programmeremains subject to market conditions." Under the current US$4 billion capital management programme, US$1.5 billion wasreturned to shareholders on 6 April 2006 in the form of a special dividend. Ofthe remaining US$2.5 billion of that programme, US$1.9 billion has been returnedto shareholders through the buyback of Rio Tinto plc shares in the Londonmarket, leaving an outstanding balance of US$600 million to be completed. For further information, please contact: LONDON AUSTRALIA Media Relations Media Relations Nick Cobban Ian Head Office: +44 (0) 20 7753 2305 Office: +61 (0) 3 9283 3620 Mobile: +44 (0) 7920 041 003 Mobile: +61 (0) 408 360 101 Investor Relations Investor Relations Nigel Jones Dave Skinner Office: +44 (0) 20 7753 2401 Office: +61 (0) 3 9283 3628 Mobile: +44 (0) 7917 227 365 Mobile: +61 (0) 408 335 309 David Ovington Susie Creswell Office: +44 (0) 20 7753 2326 Office: +61 (0) 3 9283 3639 Mobile: +44 (0) 7920 010 978 Mobile: +61 (0) 418 933 792 Website: www.riotinto.com High resolution photographs available at: www.newscast.co.uk This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Rio Tinto