Freeport-McMoRan Announces Reinstatement of Common Stock Dividend and Adoption of Performance Based Payout Policy
Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors has reinstated a cash dividend on its common stock at an annual rate of $0.30 per share.
- Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors has reinstated a cash dividend on its common stock at an annual rate of $0.30 per share.
- FCXs previous cash dividend on its common stock was $0.20 per share prior to suspending these payments in April 2020 in connection with its comprehensive response to the global pandemic.
- The Board intends to declare a quarterly dividend of $0.075 per share, with the initial quarterly dividend expected to be paid on May 1, 2020.
- The new payout policy will be implemented following achievement of a net debt target in the range of $3-$4 billion, excluding project debt for additional smelter capacity in Indonesia.