Glencore’s Reversal of Fortune Marked by Return to Dividends
- Investors weren’t expecting a dividend reinstatement: Goldman
- The stock tripled this year as coal and zinc prices rallied
Glencore: From Survival to Dividend
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Last year, the commodities crisis was so bad that Glencore Plc had to ask investors for more cash. Now, in a sign of how quickly the tide has turned, it’s going to start paying them back.
Glencore plans to reinstate a $1 billion dividend in 2017 after skipping two payments as rebounding prices for zinc and coal bolster profits. The company also said earnings from its trading division this year will be at the upper end of its forecast range, thanks to “supportive market conditions” in the second half.