Fortescue offers a higher dividend yield, while Rio shares have risen in 2026

Fortescue and Rio Tinto are major mining companies listed on the Australian Securities Exchange.

Fortescue is focused on iron ore and operates mines, a railway and a port in Western Australia’s Pilbara region.

Rio Tinto also mines iron ore, but produces other materials, including aluminium, copper and lithium.

The figures in the story show Fortescue had a 7.04% dividend yield, compared with 4.09% for Rio, and a lower P/E ratio.

Rio’s shares were up 15.1% for the year to 9 October 2026, while Fortescue’s were down 25.4%.

Both companies’ dividends were fully franked, and Rio had the larger market value.

These differences matter to investors weighing income against business diversification and recent share performance.

The story’s author favours Rio, citing its broader range of businesses, but gives no further details about what happens next.