Rio Tinto Ltd (ASX: RIO) shares stirred up interest among passive income investors this week.
And your editor was not immune.
This came on Wednesday, when the S&P/ASX 200 Index (ASX: XJO) mining giant reported its half year results.
Here's why the company has soared back onto my passive income radar.
Image source: Getty Images
Rio Tinto dividend boost makes for appealing passive income play
Rio Tinto shares closed up 3.7% on Wednesday after the company reported a strong half year (H1 2026) of operations.
Among the highlights for the six months, the miner reported a 15% increase in revenue to US$31.0 billion. And underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) were up 28% to US$14.8 billion.
The ASX 200 mining stock attributed the strong increases to a $3.6 billion benefit from stronger commodity prices, as well as $1.5 billion from higher volumes and operating cash unit cost improvements.
The half year saw benchmark prices for copper increase by 39%, while the gold price was up 53% and the aluminium price gained 33%. Rio also noted that iron ore prices remained resilient over the half, with the miner enjoying a 2% increase in its realised price.
On the bottom line, and driving that passive income interest, Rio Tinto reported a 47% increase in profit after tax to US$6.7 billion.
This saw management declare a fully franked interim dividend of AU$3.072 per share. That's up 38.4% from the 2025 Rio Tinto interim dividend. And at the recent share price of $166.72, it represents a pending fully franked yield of 1.8%.
If you want to bag that dividend, you'll need to own Rio Tinto shares at market close on 12 August. The ASX 200 miner trades ex-dividend on 13 August. You can than expect to see that passive income hit your bank account on 24 September.
Commenting on the passive income boost, Rio Tinto CEO Simon Trott said, "Our strong cash flow and balance sheet allow us to declare a US$3.4 billion interim ordinary dividend, up 43% [in US dollars], as we continue to invest in high-returning growth."
If we add in the AU$3.671 a share fully franked final Rio Tinto dividend, paid out on 16 April, then the ASX 200 mining stock trades on a fully franked yield (part trailing and part pending) of 4.1%.
Taking those franking credits into account, that works out to a grossed-up yield of 5.8%.
Atop the passive income on offer, the Rio Tinto share price has surged around 44% over the past 12 months.
