2349 GMT - Fortescue's FY dividend, at 1.08 Australian dollars a share, is a touch below market expectations of A$1.12/share or a 67% payout, says RBC Capital Markets. "The 65% payout is the mid-point of FMG's dividend policy of a 50-80% payout," RBC notes. Underlying Ebitda of US$8.64 billion is 2% higher than consensus, and guidance is maintained, the broker says. RBC has a sector perform rating and A$20.00/share target on Fortescue. The stock ended Wednesday at A$18.06.
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