Fortescue Metals Group chairman Andrew Forrest stands to collect over $120 million after the iron ore producer announced a 12¢ per share final dividend on the back of a 212 increase in net profit.

Fortescue reported a net profit after tax of $US985 million in the year to June 30, up 212 per cent from a result of $US316 million a year earlier but still a far cry from the $US2.74 billion profit posted for financial 2014.