Glencore puts dividend on ice over Covid-19 concern
Company braces itself for ‘risk of material production disruption’ due to pandemic
31 March 2020 - 18:50
Glencore, a global miner and trader headed by SA-born billionaire Ivan Glasenberg, has deferred its dividend for the year as it works to shore up its finances ahead of possible disruptions caused by the Covid-19 pandemic.
The JSE-listed company said on Tuesday that its board had deferred its decision on the proposed cash distribution of $0.20 (R3.57) per share in 2020 “to strengthen the group’s overall financial position and reflecting that, although none to date, there exists the risk of material production disruption due to Covid-19”...
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