Glencore Tops Up Investor Payouts Even as Coal Weighs on Profits
Photographer: Brendon Thorne/Bloomberg
Glencore Plc made an additional distribution to shareholders, even as declining earnings from the commodity trader-cum-miner’s sprawling coal operations weighed on full-year profit.
The company reported core earnings of $13.5 billion, 6% lower than the previous year. Still, Glencore is returning $2 billion to shareholders, including a top up distribution of $800 million that’s supported by plans to eventually monetize its stake in agriculture trader Bunge Global SA.