Glencore Raises Shareholder Returns; Commodity Prices Boosted 1st Half Profit
August 05 2021 - 1:45AM
Dow Jones News
By Jaime Llinares Taboada
Glencore PLC said Thursday that it will increase 2021
shareholder returns to $2.8 billion, as higher commodity prices
boosted profit and free cash flow in the first half of the
year.
The natural-resources major said that it will pay a $500 million
special cash distribution in September, equivalent to $0.04 a
share, and launch a $650 million share buyback to be completed by
the release of its full-year results next year.
The company made a net profit of $1.28 billion in the six months
to June, swinging from a $2.60 billion net loss a year earlier.
Adjusted earnings before interest, taxes, depreciation and
amortization jumped 79% to $8.65 billion in the period, the company
said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
August 05, 2021 02:36 ET (06:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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