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And the hits keep on coming
Glencore Found ‘Facts That May Be Relevant’ to Corruption Probes
https://www.bloomberg.com/news/articles/2020-03-05/glencore-found-facts-that-may-be-relevant-to-corruption-probes
wow - and JP morgan was a champion of Glencore if I recall correctly.
Not good. 2020 is going to be very bad for Glencore. Debt was up and low commodity prices will be trashing free cash flow. Not expecting much if any dividend for 2020 year.
In other stuff but not really individual stocks but indexes and baskets. Someone a long time ago touted Glencore and I bought in. It's not a huge holding for me but enough to be frustrating.
and WOW we are now negative. That's enough for me today.
I think my average is around 3 but haven't calculated all my purchases. I was in before the big crash and been holding on ever since. Don't want to dump more in. Wish I got out at 4 but things were looking so rosy at that time.
Same question - we are not participating in the recovery and it stinks.
Guess we know who is the dog of the lot. But anybody whose been here for years already knew that.
Wasn't sure if it was a legal thing or not. Makes sense and I have not heard of any company changing dividend once announced. And thinking about it more, the dividend is part of the 2019 results.
I guess it is the dividend for the 2020 fiscal year that could be in trouble.
Can't see the profits for Glencore or any other commodity trader/miner being good if the commodity prices remain depressed.
Why couldn't they change it even though they announced it?
Where is the bottom on this thing! it's pretty scary.
I sort of remember an article about them being able t o pay for years but can't find it now.
Because they can don't mean they will. They should up the div and reward us long time sufferers.
Or maybe do a huge buyback right now. This price is way better than what they bought in last two buybacks!
Do we think management will stick with the $0.20 dividend for the year they just announced or will they be inclined to cut it?
That Monday coming back though is a bit scary. Could go either way Monday I suppose if news comes out this whole thing is overdone.
Dividend % is nice if they stick to what they said they would pay. One would think that would be driving people to this stock.
Never ever thought we would be this low again. I feel so stupid and duped.
Ugly. This is not going to be resolved anytime soon. Once the virus is cleared, we have to hope the coming recession will be over quick.
The good news is that commodities are usually the first to recover.
Ok new goal. Lets hold the 190 line!
I know not likely either.
There she blows!
Good luck to us all!
Not really influenced me as far as buying/selling but more of a place to vent and commiserate. (and celebrate the occasional few and far between win)
Yes nothing but hope to keep above 2. But I am a realist and know its coming. So painful.
Yea I have to believe we will go sub 2- i am just not ready for that though!
The treasury shares don't have voting rights so they don't count. They just have the ability to resell these in the future if they want to raise money.