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Glencore went public in 2011. They "merged" with Xstrata in 2013. In what many view as a very bad deal for Glencore.
Glencore was really just considered a trading company before the merger, not that into mining.
Glencore timed their IPO just right.... top of the market.
I remember at the time even analyst were praising how Glencore nailed the timing.
Wild ride since then hasn't it been!
They are referring to fiscal years. The 37 cents were based on fiscal year 2021 but paid out in 2022.
Hope this holds true! sweet payouts.
From the article, "ordinary payouts of 51 cents and 58 cents are expected in 2022 and 2023"
Wonder why Glencores rise today is muted in comparison to the other miners.
I don't believe treasury shares receive a dividend. Here's my calcs.
Latest Glencore statement
Shares outstanding: 13,096,559,928
Shares held in treasury: 1,489,640,138
Glencore declared special dividend of $1.45 Billion or 11 cents share.
Shares outstanding: 13,096,559,928 x .11 = ~ $1.45 billion
If you add in treasury shares, 1,489,640,138 x .11 = ~163 million which would put payout to $1.6 billion which is not what they are paying.
Shares held in treasury do not receive dividends.
Glencore's timing always seems have them release their good results in bad markets. As for share price, I think the market likes the results today, but know that the future, while bright, will not be as bright as todays and thus the muted rise.
I am not counting on a special dividend. I feel Glencore always has some excuse why they don't distribute more money and this time will blame the upcoming slowdown.
Have to feel bad for people who bought in at 540/550. Yikes.
How wrong the analysts were... as usual.
We blew through 400 pretty quickly... getting scary.
Roller coaster day.
Here is a breakdown of each year of buybacks. There was also one from 2014, but I did not find details on it.
Year # shares Avg Price share
2022 81,174,845 481.25
2021 135,120,406 354.68
2019 595,479,270 264.08
2018 504,949,097 305.69
Glencore is again underwater on the buybacks for this round. Let's hope they step up buying while it is cheap.
# shares bought: 81,174,845
Avg price: £481.25
Thankful for the coal prices. We would be in even more pain with glencore if they weren't high
You and me both. I thought sub 4 days were long behind us. Let's hope they are!
Yea those analyst prices were bonkers. Maybe they meant in 3 years from now!
Bought back in 2012 so we are around that price again. Yes, I thought about selling at the recent highs, but wanted to hang a little longer to see how things unfold. Didn't think it would play out like this and so quickly too. Still believe once Putin is done, inflation is normal and we get back to world growth, we will see higher highs. Just don't know when.
I've been watching for so long it's become my dirty habit. I know long term we will be fine. It's not as scary as the time we had the really bad crash due to debt. Back then, I wasn't completely sure we would turn around like we did.
The average price paid for this round of buybacks is 370. So they are still ahead of the game. Let's hope they stay there! This is getting too close to 400 for my liking. Not sure my psyche can handle that.