Fortescue Metals Group founder Andrew ‘Twiggy’ Forrest nets $1.37b in dividends

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Andrew Forrest’s annual payout amounts to a cool $2.3b.
Credit: Jason Alden/Bloomberg

WA billionaire Andrew Forrest will bank a $1.37 billion final dividend cheque next month, owing to his stake in the iron ore company he founded nearly 20 years ago, Fortescue Metals Group.

The company on Monday declared a final fully franked dividend of $1.21 per share, meaning Mr Forrest’s near 37 per cent stake in Fortescue will deliver $1.37b.

Together with the 86¢ interim dividend the company declared earlier in the year, Mr Forrest’s annual payout amounts to a cool $2.3b.

However, this year’s windfall is nearly half the $3.99b he netted in the 2020/21 financial year during which his company benefited from record high iron ore prices.

The regular and hefty biannual payments have delivered Mr Forrest a healthy war chest, which he is using to make private investments across property, agriculture, mining, green energy, hospitality and retail, as well as helping him to fund a range of philosophical endeavours.

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