August 20, 2017 / 11:22 PM / in a year

RPT-Australia's Fortescue Metals steps up dividend as FY profit jumps

(Repeats to additional subscribers)

Aug 21 (Reuters) - World number 4 iron ore miner Fortescue Metals Group Ltd has more than doubled its final dividend after posting a 113 percent jump in annual net profit on Monday.

Fortescue said the higher price for iron ore it mostly sells to China and lower operating costs boosted net profit to $2.1 billion in the year to June 30 from $985 million the previous year, in line with a Thomson Reuters I/B/E/S forecast.

The company declared a A$0.25 per share final dividend, above its final dividend of A$0.12 a year ago.

Reporting by Anusha Ravindranath in Bengaluru

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