RE: Recent Dividend27 May 2021 21:40
It’s because it came from shareholders equity rather than from earnings
I’m not sure. it might be tax free...
Notice to holders of the U.S.$625 million Non-Dilutive Cash-Settled Guaranteed Convertible Bonds due 2025 issued by Glencore Funding LLC (the "Bonds", ISIN: XS1799614232)
Capitalised terms used and not defined in this notice shall bear the meanings given to them in the terms and conditions of the Bonds (the "Conditions").
Pursuant to the Conditions, Glencore plc ("Glencore"), through its subsidiary Glencore Funding LLC (the "Issuer"), hereby notifies Bondholders that as a result of the Cash Dividend of U.S.$0.06 per Ordinary Share payable on 21 May 2021 to Shareholders of record on 23 April 2021, the Calculation Agent has determined that, effective 22 April 2021:
· the Conversion Price is adjusted to £4.8396 (previously £4.7827) pursuant to Condition 6(a)(ii) of the Conditions; and