I thought, I'll sell half my holding @400p, I'm bound to get a re-entry point about 340p or so at some point, lower still if the big crash finally comes around.
What happened today? I'm well out of touch with commodity cycles having been absent for some months and it takes so long to catch up in this area. Is it the 'news' out of China that something of a downturn is on the way?
Eadwig, currently holding two tranches @286p average.
According to RNS no 0784N the Glencore dividend will be paid in £sterling to holders on the Jersey register. Why then is Interactive threatening to charge for the conversion?
Last year's dividends were paid in sterling so what's changed or is this another failure on the updated platform?
If they are paying back $ 2,900,000,000 back to shareholders, there are 14, 424,740,000 shares, that works out at 20 cents a share, or 15p a share converted to £. Approx £150 for every 1000 shares you have. Plus your normal divi of 10 cents per share. Approx £75 for every 1000 shares you have. Not too shabby, £225 per every 1000 Shares.
Seems xd was 26th April, I assume you can sell your shares now and still get the divi?
For 2018 a total distribution of $0.20 per share will be made if approved by shareholders at the AGM on 2 May. This would be payable in two equal parts in accordance with the record dates and timetables.
Distribution payment date: Wednesday 23 May
Personally, I intend to hold on to my shares. With dividends, I am showing an annualised paper profit of 6.1% at present.
I keep hearing about this special divi,I read on another BB it could be paid august.A glencore spokesman said they are sat on a lot of cash which if no assets are being purchased with it then cash maybe all of it could go back to the share holders
" FTSE FOR FRIDAY (FTSE:UKX) So far this year, our world famous FTSE for FRIDAY freebie has experienced a 100% success rate. Which isn't saying a lot, given this is our 2nd Friday! The reverse limbo dance the markets play continues to fascinate ..."
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By Scott Patterson
LONDON -- Glencore PLC, long known as one of the world's dominant coal traders, in a twist is finding itself the beneficiary of the greening of the global economy.
The Swiss mining giant is benefiting from a coming boom in electric-vehicle production, which is driving up the value of copper, cobalt and nickel -- whose demand is expected to surge from production of the vehicles and the lithium-ion batteries that will power their growing fleets.
"Electric vehicles will be disruptive to the world," Chief Executive Ivan Glasenberg said on an investor call Tuesday, and will boost demand for those three commodities.
The shift toward commodities that are likely to benefit from policies meant to curb global warming is a noteworthy shift for a company that once bet its future on coal. Mr. Glasenberg said days after Glencore's 2013 purchase of Xstrata PLC that the deal -- the mining sector's largest ever -- was a "a big play" on coal.
But tumbling coal prices in the following years dinged Glencore's earnings, raising concerns that Mr. Glasenberg's bet had gone bust. Coal prices have rallied in the past year along with most other commodities.
Now, commodities involved in the production of electric vehicles are becoming a primary earnings driver for Glencore. On Tuesday, the company forecast strong production growth in all three metals over the next few years, primarily due to electric-vehicle demand. It expects copper production to gain 25% by 2020 from 2017, cobalt -- of which it is the world's No. 1 producer -- to more than double and nickel to rise 23%.
The company said it has completed an $880 million upgrade of one of its massive copper-mining operations in Congo -- Katanga Mining -- which will help it benefit from rising demand for copper and cobalt.
Glencore had suspended production at Katanga in September 2015 so it could refurbish the mine and double annual production of copper to 300,000 metric tons, a goal it expects to reach in 2019. It said Katanga is expected to produce 34,000 tons of cobalt by then, likely making it the most productive cobalt mine in the world.
A CRU Group report commissioned by Glencore forecast that by 2020, electric-vehicle related demand -- including grid infrastructure and storage, electricity generation, charging stations and the vehicles themselves -- could require an additional 390,000 tons of copper, 85,000 tons of nickel and 24,000 tons of cobalt.
Year-to-date, copper prices have gained 19%, nickel is up 8.5% and cobalt has more than doubled, according to FactSet.
Shares of Glencore are up 26% this year and have risen more than fivefold since investors fled the stock in 2015 amid concerns that tumbling commodity prices could strain the miner's debt-laden balance sheet. Since then, Glencore has slashed its net debt to $13.9 billion from nearly $30 billion.
Cobalt, a byproduct of copper and nickel mining, is expected to see the biggest increase in demand from electric vehicles. Cobalt demand from electric vehicles could surge to 314,000 tons by 2030, a more than fourfold increase from global supply in 2016, according to the report by CRU, a London-based commodities researcher. Mr. Glasenberg said he doubts there is enough cobalt in the world to meet that demand.
"Cobalt is basically off the charts," Mr. Glasenberg said. He said metal prices are going to need to increase to provide incentives for miners to start new projects to supply the commodities required for rising electric-vehicle demand "which we believe is sitting around the corner."
Analysts say rising demand for cobalt could provide a supply bottleneck for electric vehicles. One concern is over Congo, which supplies about 60% of the world's cobalt -- much of it
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