Glencore M&A Firepower Undiminished After $2.9 Billion Dividend [Bloomberg Business News]
GLENCORE PLC UNSP/ADR (GLNCY)
US:NASDAQ Investor Relations:
glencore.com/investors
Company Research
Source: Bloomberg Business News
By Thomas Wilson Updated on Glencore wants to grow its agriculture business, CEO says Standstill agreement with Bunge has ended: Glasenberg Glencore Plc might have announced a whopping $2.9 billion dividend, but that doesn’t mean the company’s dealmaking firepower is diminished. "We’re generating $10 billion of free cash flow on current commodity prices,” Chief Executive Officer Ivan Glasenberg told reporters on a call after reporting full-year results. “There is room if and when we want to do any acquisitions." Glencore cut net debt by about a third in 2017 and announced the bigger-than-expected dividend that’s well above its minimum pledged payout. The commodity trader and miner delivered the best trading results since the supercycle peak in 2008. “Our performance in 2017 was our strongest on record, driven by our leading marketing and industrial asset b
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