Underlying earnings rose 10% to US$10.2bn as the miner lifted its dividend to US$1.92 .
“The 15% increase in our dividend reflects our confidence in the business and its attractive prospects," said chief executive Sam Walsh.
Operating cash cost improvements of US$2.3bn were made, exceeding the group’s US$2.0bn target.
The company said tough decisions are being taken to re-shape the aluminium business. Last year it closed, curtailed or divested six non-core aluminium assets, including the suspension of production at the Gove alumina refinery to focus on the bauxite operations.