Glencore Dividends - GLEN

Glencore Dividends - GLEN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Glencore Plc GLEN London Ordinary Share JE00B4T3BW64 ORD USD0.01
  Price Change Price Change % Stock Price Last Trade
-1.90 -1.11% 168.96 16:35:07
Close Price Low Price High Price Open Price Previous Close
168.96 166.92 171.08 168.00 170.86
more quote information »
Industry Sector
MINING

Glencore GLEN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
18/02/2020SpecialUSD0.131/12/201831/12/201923/04/202024/04/202022/05/20200
18/02/2020SpecialUSD0.131/12/201831/12/201903/09/202004/09/202022/09/20200.2
07/08/2019SpecialUSD0.131/12/201731/12/201805/09/201906/09/201924/09/20190.2
20/02/2019SpecialUSD0.131/12/201731/12/201825/04/201926/04/201923/05/20190
08/08/2018SpecialUSD0.131/12/201631/12/201705/09/201806/09/201827/09/20180.2
21/05/2018SpecialUSD0.131/12/201631/12/201726/04/201827/04/201823/05/20180
23/02/2017FinalUSD0.0731/12/201531/12/201611/05/201712/05/201731/05/20170.07
19/08/2015InterimUSD0.0631/12/201431/12/201510/09/201512/09/201529/09/20150.06
03/03/2015FinalUSD0.1231/12/201331/12/201423/04/201525/04/201521/05/20150.18
20/08/2014InterimUSD0.0631/12/201331/12/201403/09/201405/09/201419/09/20140
04/03/2014FinalUSD0.11131/12/201231/12/201312/05/201414/05/201430/05/20140.161
20/08/2013InterimUSD0.05431/12/201231/12/201328/08/201330/08/201312/09/20130
05/03/2013FinalUSD0.103531/12/201131/12/201222/05/201324/05/201307/06/20130.15
21/08/2012InterimUSD0.05431/12/201131/12/201229/08/201231/08/201213/09/20120
05/03/2012FinalGBX1031/12/201031/12/201116/05/201218/05/201201/06/201215
25/08/2011InterimGBX531/12/201031/12/201107/09/201109/09/201130/09/20110

Top Dividend Posts

DateSubject
05/7/2020
12:20
sarkasm: Tempted by the Glencore share price? Here’s what I think you need to know Rupert Hargreaves | Sunday, 5th July, 2020 | Since the beginning of the year, the Glencore (LSE: GLEN) share price has dropped more than 29%. After this decline, the stock looks cheap compared to its historical pricing. However, like so many other businesses, Glencore has been severely impacted by the coronavirus crisis. The company is facing several other significant headwinds as well. Glencore share price concerns Glencore is the world’s biggest commodities trader. It shifts millions of tonnes of metals, minerals and oil across the globe. This gives the company a relatively defensive nature. The world will always need commodities like oil and copper, and Glencore has the size and contacts required to procure and ship these resources at the lowest possible costs. But the business also operates in some grey legal areas, and the lawsuits are mounting up. The latest is a criminal investigation into the company over its failure to prevent alleged corruption in the Democratic Republic of Congo, where it mines copper and cobalt. The group is also being investigated by the Serious Fraud Office over “suspicions of bribery” in December 2019 These legal actions have had a meaningful negative impact on the Glencore share price. It doesn’t look as if these investigations will be resolved anytime soon either. If it is found guilty in any of these investigations, the company’s ability to do business in certain countries may be restricted. That could have an impact on profitability, which would lead to further selling of the Glencore share price. Global leader Still, even if the company is found guilty, the size of its operations should insulate it from the worst of the fallout. There are few, if any, other companies that have access to their same kind of trading infrastructure as Glencore. As such, now may be a good time for risk-tolerant investors to snap a share of this business at a low price. The company’s earnings might drop substantially this year, but they should recover in 2021, according to analysts. This depends on the global economic recovery. However, policymakers around the world are planning large infrastructure spending plans to get the global economy moving again after the coronavirus crisis. The Glencore share price could benefit significantly from these actions as the demand for its commodities increases. Also, the company has historically returned a significant amount of profits to investors with dividends or share buybacks. This may continue when the crisis is over. Management still owns a large percentage of the group’s outstanding shares. Shareholders should benefit from this in the long run. If you like the look of the Glencore share price but are worried about the company’s legal problems, it may be best to own the stock as part of a well-diversified portfolio. Doing so may enable you to benefit from any upside while minimising downside risk. The Motley Fool
19/2/2020
09:17
florenceorbis: This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (February 19, 2020). Glencore PLC swung to a loss in 2019 as subdued prices for commodities -- including coal -- weighed on earnings in its industrial unit and prompted the miner to write down the value of key assets. The Anglo-Swiss commodities company booked $2.8 billion in impairment charges, which contributed to a net-loss of $404 million, down from a profit of $3.41 billion in 2018. Glencore is the biggest exporter and producer of thermal coal among the world's major diversified mining companies, leaving it exposed to a steep decline in the price of the fossil fuel in recent years. The price of coal delivered into ports in Northern Europe -- a benchmark for sales from Glencore's coal-mining operations in Colombia -- fell 39% in 2019 amid a flood of cheap liquefied-natural gas, as well as policies designed to reduce greenhouse-gas emissions. The drop in prices, which has extended into 2020, prompted Glencore to write down its Colombian coal assets by almost $1 billion, the company said in its annual report Tuesday. The charges also included impairments to oil operations in Chad, stemming from the expiration of oil-exploration licenses. Glencore had failed to reach an agreement with the country's government about extending them. The company also impaired its copper and cobalt mine in the Democratic Republic of Congo by $300 million to reflect falling cobalt prices and its decision to halt production at the mine in November. Glencore shares closed down 4.5% in London after the company reported the loss, its first since commodity prices slumped in 2015. "It's clear that the amount of coal being consumed in the Atlantic [market] is decreasing," said Chief Executive Ivan Glasenberg, a former coal trader who has been consistently bullish about the outlook for the fossil fuel in the developing world. "That will continue to decrease." Glencore is gearing up for a change of leadership after Mr. Glasenberg -- who became CEO in 2002 -- signaled late last year that the company would make management changes in 2020, paving the way for his retirement. "We're working on it and there will be a few senior changes coming," Mr. Glasenberg told reporters. "Once the new generation's in place and ready to move on, then it's time for me, too, to move on." Mr. Glasenberg said Glencore had no plans to stop mining thermal coal, which is burned to generate electricity, pointing to rising demand for the fuel in fast-growing Asian economies. Glencore's coal reserves in Colombia are due to run out by 2035 and Chief Financial Officer Steven Kalmin said the company would review its operations in the Latin American country if they became unprofitable. Currently, they are breaking even, he said. Glencore expects to keep mining thermal and metallurgical coal in Australia at current rates for longer, saying that demand for higher-quality Australian coal is rising at power plants and steel producers in Asia. The miner -- one of the world's biggest producers of raw materials such as copper, cobalt and coal -- also said it was closely monitoring the deadly outbreak of coronavirus, which has caused significant disruption in China, the world's biggest consumer of raw materials. The initial impact of the epidemic on Glencore's business has been minor, but the company could decide to reduce output if the illness leads to a sizable drop in demand in the commodities it produces, Mr. Glasenberg said. "We haven't seen a major effect yet," he said. "We don't want to dig the material out of the ground if it's not required in the market." Another gauge of profitability closely followed by investors -- adjusted earnings before interest, taxes, depreciation and amortization -- fell 26% to $11.6 billion from $15.8 billion in 2018. That was slightly ahead of the consensus forecast of $11.2 billion, according to a compilation of analyst predictions by Vuma. Glencore's trading division -- which ships raw materials such as oil, copper and wheat around the world -- partially offset the pressure on profit from weak commodity prices. Adjusted Ebitda from marketing activities rose 5.8% to $2.6 billion, driven by the strong performance of the company's oil traders, who benefited from volatility in energy markets. Analysts at Citigroup said Glencore had "reported a decent set of results," saying that a widening of net debt to $17.6 billion was largely driven by changed accounting standards. Mr. Glasenberg declined to give more details about the timing and results of various regulatory investigations that have weighed on Glencore's share price in recent years. The company said in July 2018 that it had received a subpoena from U.S. authorities related to compliance with corruption and money-laundering laws at its operations in the Democratic Republic of Congo, Nigeria and Venezuela. Last year, Glencore said it was also subject to investigations by the U.S. Commodity Futures Trading Commission and by the U.K.'s Serious Fraud Office. Write to Joe Wallace at Joe.Wallace@wsj.com (END) Dow Jones Newswires February 19, 2020 02:47 ET (07:47 GMT)
18/2/2020
16:45
waldron: Glencore to shake up its top tier with younger leaders ‘Senior changes coming’ at commodities trader, says chief Glasenberg 22 minutes ago Only a handful of executives from the time of Glencore’s 2011 flotation are still at the company. Only a handful of executives from the time of Glencore’s 2011 flotation are still at the company. AddThis Sharing Buttons Share to Facebook Share to Twitter Share to Email App Share to LinkedIn Glencore boss Ivan Glasenberg has said several more leadership changes are on the way as the miner and commodities trader makes the transition towards a new, younger generation of leaders in 2020. Speaking after the publication of annual results, which beat market expectations, Mr Glasenberg said the company was working on bringing through a fourth generation of leaders. “There will be a few senior changes coming,” Mr Glasenberg said, without giving further details. “As I have said, once the new generation is in place and ready to move on, it will also be time for me to move on.” In the almost half century that Glencore has traded commodities, the company has had just three chief executives, including its founder Marc Rich. Pressure Today, only a handful of executives from the time of Glencore’s 2011 flotation are still at the company. These include Mr Glasenberg, head of coal trading Tor Peterson, and Daniel Mate, who leads its zinc business. Bribery investigations by the UK’s Serious Fraud Office and the US Department of Justice have increased the pressure for more change at the top of the company, according to analysts and investors. They say the leading contenders to succeed Mr Glasenberg are: Gary Nagle, head of coal assets; Kenny Ives, who runs the nickel operations; and new copper boss Nico Paraskevas. Mr Nagle, a fast-talking South African, is the most similar to Mr Glasenberg - who once said his ideal replacement would be about 45 and look much like himself. Mr Glasenberg was speaking after Glencore announced a drop in annual profits. 2019 was a tough year for the company as it missed production guidance for its key commodities and faced a string of issues at its Africa copper business, which it is now starting to tackle. In addition, commodity prices fell because of uncertainty created by the US-China trade war. All that weighed on its share price, which dropped more than 20 per cent, underperforming the wider market and its peers. Learn more Glencore said adjusted earnings before interest, tax, depreciation and amortisation – the measure most closely followed by analysts – fell 26 per cent to $11.6 billion in the year to December on lower prices for its key commodities including copper, thermal coal and zinc. However, the result was ahead of market forecasts by about $400 million (€369 million). Revenue was $215 billion, down from $220 billion, while net debt increased to $17.6 billion, from $14.7 billion a year earlier, as Glencore was forced to add leading commitments to its balance sheet under new accounting rules. “Given we see a credible turnround in Africa. . .we don’t have too much concern over the balance sheet position today despite being slightly over the top end of the company’s desired level,” said Conor Rowley, analyst at Credit Suisse. After taking a string of impairment charges on assets, including copper mines in the Democratic Republic of Congo and Zambia and Colombian coal businesses, Glencore recorded a loss for the year of just over $400 million. Assets Glencore said its Colombian coal assets had been hit by an oversupply of liquefied natural gas (LNG) and the knock-on effect of weaker European demand. Its African copper mine Mutanda, which has been mothballed, suffered from low cobalt prices. The company declared a dividend of 20 cents a share, which will be paid in two equal instalments, but did not announce another share buyback programme. That would be on hold until net debt is around $14 billion to $15 billion, or about one times ebitda, Mr Glasenberg said. “We would like to do buybacks at some stage [in 2020] and if the free cash flow allows us to do it, we will do,” he said. Mr Glasenberg said Glencore was closely monitoring the coronavirus outbreak but it was too early to tell what impact it would have on growth in China and therefore commodities. Nonetheless, he said Glencore’s muscular trading arm, which is an important source of cash for the company, had enjoyed a good start to the year. “It is a bit too early in mid-February to start predicting exactly where [profits from the trading business] are going to be . . .but the year has started off fairly well,” he said. In a separate announcement, Glencore projected a 30 per cent reduction in its absolute Scope 3 emissions – which include those produced by its customers–- over the next 15 years. Mr Glasenberg said he expected the “depletionR21; of the company’s coal resource base in Colombia, and to a lesser extent, South Africa and Australia, to contribute to this reduction. “By 2035 we will not have any production in Colombia. [The] Cerrejón and Prodeco [mines] will not be running at that time.” Although Glencore has a large coal business, it already has lower Scope 3 emissions than many of its rivals such as BHP and Rio Tinto, which supply raw materials to China’s huge steelmaking industry. – Copyright The Financial Times Limited 2020
18/2/2020
12:46
sarkasm: Glencore Swings to Loss Amid Lower Commodity Prices -- 2nd Update share with twitter share with LinkedIn share with facebook share via e-mail 0 02/18/2020 | 12:21pm GMT By Joe Wallace and Adria Calatayud Glencore PLC swung to a loss in 2019 as subdued prices for commodities -- including coal -- weighed on earnings in its industrial unit and prompted the miner to write down the value of key assets. The Anglo-Swiss commodities giant booked $2.8 billion in impairment charges, which contributed to a net-loss of $404 million, down from a profit of $3.41 billion in 2018. The company is the biggest exporter and producer of thermal coal among the world's major diversified miners, leaving it exposed to a steep decline in the price of the fossil fuel in recent years. The price of coal delivered into ports in northern Europe -- a benchmark for sales from Glencore's coal-mining operations in Colombia -- tumbled 39% in 2019 amid a flood of cheap liquefied-natural gas, as well as policies designed to reduce greenhouse-gas emissions. The drop in prices, which has extended into 2020, prompted Glencore to write down its Colombian coal assets by almost $1 billion, the company said in its annual report Tuesday. The charges also included impairments to oil operations in Chad, stemming from the expiration of oil-exploration licenses. Glencore had failed to reach an agreement with the country's government about extending them. The company also impaired its massive copper and cobalt mine in the Democratic Republic of Congo by $300 million to reflect falling cobalt prices and its decision to halt production at the mine in November. Glencore shares slipped 3.2% in London after the company reported the loss, its first since commodity prices slumped in 2015. "It's clear that the amount of coal being consumed in the Atlantic is decreasing," said Chief Executive Ivan Glasenberg, a former coal trader who has been consistently bullish about the outlook for the fossil fuel in the developing world. "That will continue to decrease." Glencore is gearing up for a change of leadership after Mr. Glasenberg, who became chief executive in 2002, signaled late last year that the company would make management changes in 2020, paving the way for his retirement. "We're working on it and there will be a few senior changes coming," Mr. Glasenberg told reporters. "Once the new generation's in place and ready to move on, then it's time for me, too, to move on." Mr. Glasenberg said Glencore had no plans to stop mining thermal coal, which is burned to generate electricity, pointing to rising demand for the fuel in fast-growing Asian economies. Glencore's coal reserves in Colombia are due to run out by 2035 and Chief Financial Officer Steven Kalmin said the company would review its operations in the Latin American country if they became unprofitable. Currently they are breaking even, he said. Glencore expects to keep mining thermal and metallurgical coal in Australia at current rates for longer, saying that demand for higher-quality Australian coal is rising at power plants and steel producers in Asia. The miner -- one of the world's biggest producers of raw materials such as copper, cobalt and coal -- also said it was closely monitoring the deadly outbreak of coronavirus, which has caused massive disruption in China, the world's biggest consumer of raw materials. The initial impact of the epidemic on Glencore's business has been minor, but the company could decide to reduce output if the illness leads to a major drop in demand in the commodities it produces, said Mr. Glasenberg. "We haven't seen a major effect yet," Mr. Glasenberg said. "We don't want to dig the material out of the ground if it's not required in the market." Another gauge of profitability closely followed by investors -- adjusted earnings before interest, taxes, depreciation and amortization -- dropped 26% to $11.6 billion from $15.8 billion in 2018. That was slightly ahead of the consensus forecast of $11.2 billion, according to a compilation of analyst predictions by Vuma. Glencore's trading division -- which ships raw materials such as oil, copper and wheat around the world -- partially offset the pressure on profits from weak commodity prices. Adjusted Ebitda from marketing activities rose 5.8% to $2.6 billion, driven by the strong performance of the company's oil traders, who benefited from volatility in energy markets. Analysts at Citigroup said Glencore had "reported a decent set of results," saying that a rise in net debt to $17.6 billion was largely driven by changed accounting standards. Mr. Glasenberg declined to give more details about the timing and results of various regulatory investigations that have weighed on Glencore's share price in recent years. The company said in July 2018 that it had received a subpoena from U.S. authorities related to compliance with corruption and money-laundering laws at its operations in the Democratic Republic of Congo, Nigeria and Venezuela. Last year, Glencore said it was also subject to investigations by the U.S. Commodity Futures Trading Commission and by the U.K.'s Serious Fraud Office. Write to Joe Wallace at Joe.Wallace@wsj.com
05/2/2020
11:32
waldron: Investomania Home Investing Articles FTSE 100 (INDEXFTSE: UKX) FTSE 250 (INDEXFTSE: MCX) Do these FTSE 100 stocks have growth potential? Imperial Brands, Glencore and BAE Could these FTSE 100 (INDEXFTSE:UKX) shares produce rising earnings? Imperial Brands PLC (LON:IMB) (IMB.L), Glencore PLC (LON:GLEN) (GLEN.L) and BAE Systems plc (LON:BA) (BA.L) February 5, 2020 Robert Stephens, CFA BAE (LON: BA) (BA.L) (BA.LON), FTSE 100 (INDEXFTSE: UKX), Glencore (LON: GLEN) (GLEN.L) (GLEN.LON), Imperial Brands (LON: IMB) (IMB.L) (IMB.LON) BAE Systems plc BAE Systems plc The investment prospects for FTSE 100 (INDEXFTSE:UKX) stocks Imperial Brands PLC (LON:IMB) (IMB.L), Glencore PLC (LON:GLEN) (GLEN.L) and BAE Systems plc (LON:BA) (BA.L) have been challenging over the past couple of years. BAE, for instance, has faced uncertainty regarding its ability to service demand from Saudi Arabia. This could continue to be a threat to my mind, although the company is seeking to diversify its revenue streams and Saudi Arabia sales currently account for 14% of its total revenue. I think that rising global defence spending could catalyse BAE’s financial prospects. It is expanding its Australian business, could benefit from rising NATO spending and still offers a dividend yield of almost 4%. Imperial Brands has been hurt by falling demand for cigarettes in the past few years. It also reported this week that the growth in sales for its next-generation products have been lower than its previous guidance, which caused its share price to fall by around 10%. Its change in CEO may also create some uncertainty for the business in the short run. I feel that cigarettes still offer profit growth potential due to pricing power. Their solid cash flow could provide Imperial Brands with the capital it needs to develop its market position in an ever-changing reduced-risk products segment. Sure, regulatory risks are a concern for the business, but they have been omnipresent in the tobacco sector since I started following it 15 years ago. I feel that those risks may now be factored into Imperial Brands’ share price, although I’m expecting further volatility from the stock in the short run. Glencore may suffer from concerns about the global economy in my view, while regulatory risks could continue to concern investors. Still, I feel that its shift towards cleaner products could enhance its sustainability and long-term profit growth. It has a diverse asset base, and I feel that the overall mining sector could be undervalued at the moment. Sure, Glencore has experienced volatile trading conditions of late – and they may continue. But its prospective P/E ratio of 10.5 could indicate good value for money to my mind. About Robert Stephens, CFA 6256 Articles Robert Stephens is an Equity Analyst who runs his own research company. He is a CFA Charterholder and a passionate private investor who has been buying and selling shares for many years. He currently writes for The Telegraph's Questor column, What Investment, Master Investor, Investomania and Gurufocus. To contact Robert, please email info@investomania.co.uk or connect via Twitter
01/2/2020
11:32
sarkasm: Look past the negativity – there’s one very good reason why I like Glencore shares at the moment Michael Baxter | Thursday, 30th January, 2020 | More on: GLEN Diggers and trucks in a coal mine Image source: Getty Images. Glencore (LSE: GLEN) shares have fallen by 28% since last April. There are good reasons for the fall. At the top of the list is the news that broke at the end of last year of an investigation by the Serious Fraud Office into allegations of bribery at the company. In addition, there have been nagging doubts about debts at the company for some time, although it has reduced them significantly over the last year. Its debt ratio is now 48%, which is not horrendous. Another fear relates to the fall in annual profits in 2018, down by around a third from the year before. In the latest half-year period, profits fell precipitously from £2.8bn to £226m. On the other hand, Glencore is a big dividend payer and offers diversification across the mining sector. Cobalt and lithium ion batteries Let me now turn to the reason I like Glencore. It’s very simple: cobalt. Glencore is the biggest miner of cobalt in the world. That is significant because cobalt is a key component in lithium ion batteries. The economics of electric cars is becoming more compelling. The cost of lithium ion batteries, the big cost component in electric cars, fell from almost $1.200 a kilowatt hour in 2010 to less than $200 in 2018. As the lifetime cost of lithium ion batteries falls and the longevity of the batteries increases, their carbon foot print reduces. More to the point, we are very close to a tipping point when the life-time cost of an electric car including running costs, is less than the lifetime cost of an internal combustion engine car. Once that tipping point is crossed, lithium ion batteries will continue to get cheaper and I believe that demand for electric cars will explode. With that rapid increase in demand for electric cars, demand for cobalt will grow proportionately. Glencore will be a big winner from this. With the current Glencore share price at its lowest level since the autumn of 2006, I think its position in the cobalt market makes this company’s share price attractive. In my opinion, the bad news about the company is priced in, but the good news is not. A concern, not a deterrent I do have one nagging concern about Glencore’s longer-term prospects. Elon Musk, the boss of Tesla, which is leading the electric car revolution, has said he wants to eliminate cobalt from Tesla lithium ion batteries. At the moment, this is just an aspiration. In any case, the rush of other car companies into the electric car market, who are not so keen to remove cobalt from batteries, means that for the next two or three years demand for the metal will grow very fast. Look further ahead to the midpoint of this decade, however, and cobalt demand may have peaked and be in decline. Glencore has got several years to prepare and I believe that whatever the future components of energy storage technology may be, mining will be crucial. A top income share with a juicy 5% forecast dividend yield Income-seeking investors like you won’t want to miss out on this timely opportunity… Here’s your chance to discover exactly what has got our Motley Fool UK analyst all fired up about this out-of-favour business that’s throwing off gobs of cash! But here’s the really exciting part… Our analyst is predicting there’s potential for this company’s market value to soar by at least 50% over the next few years... He even anticipates that the dividend could grow nicely too — as this much-loved household brand continues to rapidly expand its online business — and reinvent itself for the digital age. With shares still changing hands at what he believes is an undemanding valuation, now could be the ideal time for patient, income-seeking investors to start building a long-term holding. Click here to claim your copy of this special report now — and we’ll tell you the name of this Top Income Share… free of charge! Michael Baxter has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
06/12/2019
07:02
waldron: Glencore Faces Bribery Probe, Sending Shares Lower--4th Update 05/12/2019 11:22pm Dow Jones News Glencore (LSE:GLEN) Intraday Stock Chart Today : Friday 6 December 2019 Click Here for more Glencore Charts. By Alistair MacDonald and Scott Patterson LONDON -- Britain's top financial cop said it is investigating Glencore PLC for alleged bribery, sending shares of the mining and commodities-trading company down 9% and adding to regulatory woes elsewhere that have weighed on the company all year. The U.K.'s Serious Fraud Office said it was investigating suspicions of bribery "in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons." It didn't elaborate. Glencore also disclosed the probe in a statement on Thursday. It declined to comment further. The agency has been looking into the mining giant's activities in the Democratic Republic of Congo and its relationship with Israeli diamond merchant Dan Gertler, according to a person familiar with the probe. Glencore's shares have fallen nearly 25% this year amid regulatory scrutiny all over the world. During the same period, most large miners' stock has risen. Analysts blame Glencore's underperformance on its legal and regulatory troubles, among other factors. Glencore said in July 2018 that it had received a subpoena from the U.S. Justice Department, demanding records relating to its compliance with American antibribery and money-laundering laws in the Democratic Republic of Congo, Nigeria and Venezuela. Glencore has also said that it is the subject of an investigation by the U.S. Commodity Futures Trading Commission. The company has engaged external legal counsel and forensic experts to assist in responding to the Justice Department and CFTC investigations, Glencore said in posting its half-year results in August. "This is an obvious negative...there is a serious discount already in the Glencore share price" as a result of investigations, said Tyler Broda, an analyst at the Royal Bank of Canada. Mr. Broda said regulatory investigations and other problems, such as the group's exposure to coal, mean the company was already trading at a $28 billion discount to peers such as BHP Ltd. The Journal reported last year that the focus of the Justice Department's probe is Glencore's ties to Mr. Gertler. The U.S. Treasury Department sanctioned Mr. Gertler in 2017, alleging he traded on a friendship with former Congolese President Joseph Kabila to amass a fortune through "opaque and corrupt" deals on behalf of multinational companies seeking to do business in Congo. Glencore provided nearly $1 billion in loans and advances to companies associated with Mr. Gertler in a roughly 10-year period starting in 2007, according to documents reviewed earlier this year by The Wall Street Journal. The loans were designed in part to help finance investments by Mr. Gertler in copper-mining operations in Congo alongside Glencore, the documents show. A spokesman for Mr. Gertler's main company in Congo, Fleurette Group, didn't immediately comment. The group has denied wrongdoing in the past. Glencore's shares have been weighed down by regulatory investigations, but the company faces other problems, including weakness in the price of coal and cobalt and underperformance at its African copper division. On Tuesday, Glencore Chief Executive Ivan Glasenberg signaled senior management changes for 2020, paving the way for his own eventual departure. Mr. Glasenberg, who joined Glencore in 1984 and has been CEO since 2002, told investors that the company would meet in early 2020 to talk about a change to its "old guard." Once a new layer of management was in place, he would be in a position to step aside, he said. The 62-year-old South African-born executive joined Glencore in 1984 and has been CEO since 2002. He merged Glencore, a commodities-trading company with Xstrata, one of the world's biggest mining companies, in a $29.5 billion deal that created one of the world's largest coal, copper and zinc producers in 2013. The company also moved heavily into cobalt and copper, two metals that are seen as a bet on the electrification of transport, and a play that increased its exposure to Congo. The company's shares have been on a volatile ride in recent years amid concerns about overleverage in 2015 and more recently a lengthening list of regulatory investigations. Write to Alistair MacDonald at alistair.macdonald@wsj.com and Scott Patterson at scott.patterson@wsj.com (END) Dow Jones Newswires December 05, 2019 18:07 ET (23:07 GMT)
05/12/2019
17:31
waldron: Glencore Faces Bribery Probe, Sending Shares Lower--3rd Update 05/12/2019 5:23pm Dow Jones News Glencore (LSE:GLEN) Intraday Stock Chart Today : Thursday 5 December 2019 Click Here for more Glencore Charts. By Alistair MacDonald and Scott Patterson LONDON -- Britain's top financial cop said it is investigating Glencore PLC for alleged bribery, sending shares of the mining and commodities-trading company down almost 9% and adding to regulatory woes elsewhere that have weighed on the company all year. The U.K.'s Serious Fraud Office said it was investigating suspicions of bribery "in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons." It didn't elaborate. Glencore also disclosed the probe in a statement on Thursday. It declined to comment further. The agency has been looking into the mining giant's activities in the Democratic Republic of Congo and its relationship with Israeli diamond merchant Dan Gertler, according to a person familiar with the probe. Glencore's shares have fallen nearly 25% this year amid regulatory scrutiny all over the world. During the same period, most large miners' stock has risen. Analysts blame Glencore's underperformance on its legal and regulatory troubles, among other factors. Glencore said in July 2018 that it had received a subpoena from the U.S. Justice Department, demanding records relating to its compliance with American antibribery and money-laundering laws in the Democratic Republic of Congo, Nigeria and Venezuela. Glencore has also said that it is the subject of an investigation by the U.S. Commodity Futures Trading Commission. The company has engaged external legal counsel and forensic experts to assist in responding to the Justice Department and CFTC investigations, Glencore said in posting its half-year results in August. "This is an obvious negative...there is a serious discount already in the Glencore share price" as a result of investigations, said Tyler Broda, an analyst at the Royal Bank of Canada. Mr. Broda said regulatory investigations and other problems, such as the group's exposure to coal, mean the company was already trading at a $28 billion discount to peers such as BHP Ltd. The Journal reported last year that the focus of the Justice Department's probe is Glencore's ties to Mr. Gertler. The U.S. Treasury Department sanctioned Mr. Gertler in 2017, alleging he traded on a friendship with former Congolese President Joseph Kabila to amass a fortune through "opaque and corrupt" deals on behalf of multinational companies seeking to do business in Congo. Glencore provided nearly $1 billion in loans and advances to companies associated with Mr. Gertler in a roughly 10-year period starting in 2007, according to documents reviewed earlier this year by The Wall Street Journal. The loans were designed in part to help finance investments by Mr. Gertler in copper-mining operations in Congo alongside Glencore, the documents show. A spokesman for Mr. Gertler's main company in Congo, Fleurette Group, didn't immediately comment. The group has denied wrongdoing in the past. Glencore's shares have been weighed down by regulatory investigations, but the company faces other problems, including weakness in the price of coal and cobalt and underperformance at its African copper division. On Tuesday, Glencore Chief Executive Ivan Glasenberg signaled senior management changes for 2020, paving the way for his own eventual departure. Mr. Glasenberg, who joined Glencore in 1984 and has been CEO since 2002, told investors that the company would meet in early 2020 to talk about a change to its "old guard." Once a new layer of management was in place, he would be in a position to step aside, he said. The 62-year-old South African-born executive joined Glencore in 1984 and has been CEO since 2002. He merged Glencore, a commodities-trading company with Xstrata, one of the world's biggest mining companies, in a $29.5 billion deal that created one of the world's largest coal, copper and zinc producers in 2013. The company also moved heavily into cobalt and copper, two metals that are seen as a bet on the electrification of transport, and a play that increased its exposure to Congo. The company's shares have been on a volatile ride in recent years amid concerns about overleverage in 2015 and more recently a lengthening list of regulatory investigations. Write to Alistair MacDonald at alistair.macdonald@wsj.com and Scott Patterson at scott.patterson@wsj.com (END) Dow Jones Newswires December 05, 2019 12:08 ET (17:08 GMT)
02/1/2019
11:31
la forge: Financial Survey: GLENCORE PLC/ADR (GLNCY) versus China Oilfield Services (OTCMKTS:CHOLY) Posted by Darrell McKinsey on Jan 2nd, 2019 inShare GLENCORE PLC/ADR (OTCMKTS:GLNCY) and China Oilfield Services (OTCMKTS:CHOLY) are both basic materials companies, but which is the superior investment? We will contrast the two companies based on the strength of their dividends, institutional ownership, valuation, risk, earnings, analyst recommendations and profitability. Valuation & Earnings Get GLENCORE PLC/ADR alerts: This table compares GLENCORE PLC/ADR and China Oilfield Services’ top-line revenue, earnings per share (EPS) and valuation. Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio GLENCORE PLC/ADR $205.48 billion 0.25 $5.78 billion $0.78 9.28 China Oilfield Services $2.57 billion 0.60 $4.89 million $0.02 850.50 GLENCORE PLC/ADR has higher revenue and earnings than China Oilfield Services. GLENCORE PLC/ADR is trading at a lower price-to-earnings ratio than China Oilfield Services, indicating that it is currently the more affordable of the two stocks. Dividends GLENCORE PLC/ADR pays an annual dividend of $0.34 per share and has a dividend yield of 4.7%. China Oilfield Services pays an annual dividend of $0.15 per share and has a dividend yield of 0.9%. GLENCORE PLC/ADR pays out 43.6% of its earnings in the form of a dividend. China Oilfield Services pays out 750.0% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. GLENCORE PLC/ADR is clearly the better dividend stock, given its higher yield and lower payout ratio. Analyst Ratings This is a breakdown of current ratings and recommmendations for GLENCORE PLC/ADR and China Oilfield Services, as provided by MarketBeat.com. Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score GLENCORE PLC/ADR 0 2 6 0 2.75 China Oilfield Services 0 0 1 0 3.00 Institutional & Insider Ownership 0.1% of GLENCORE PLC/ADR shares are held by institutional investors. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock is poised for long-term growth. Profitability This table compares GLENCORE PLC/ADR and China Oilfield Services’ net margins, return on equity and return on assets. Net Margins Return on Equity Return on Assets GLENCORE PLC/ADR N/A N/A N/A China Oilfield Services -0.59% -0.33% -0.16% Risk and Volatility GLENCORE PLC/ADR has a beta of 2.06, suggesting that its share price is 106% more volatile than the S&P 500. Comparatively, China Oilfield Services has a beta of 1.02, suggesting that its share price is 2% more volatile than the S&P 500. Summary GLENCORE PLC/ADR beats China Oilfield Services on 11 of the 14 factors compared between the two stocks. GLENCORE PLC/ADR Company Profile GLENCORE PLC/ADR logoGlencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore. The Energy Products segment activities include coal mining and oil production operations covering crude oil, oil products, steam coal, and metallurgical coal; and investments in ports, vessels, and storage facilities. The Agricultural Products segment engages in the storage, handling, processing, and port facilities of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton, and sugar. Glencore plc markets and delivers physical commodities sourced from third party producers and its production to industrial consumers in the automotive, steel, power generation, oil, and food processing industries. The company was formerly known as Glencore Xstrata plc and changed its name to Glencore plc in May 2014. Glencore plc was founded in 1974 and is headquartered in Baar, Switzerland. China Oilfield Services Company Profile China Oilfield Services logoChina Oilfield Services Limited, together with its subsidiaries, provides integrated offshore oilfield services in Mainland China and internationally. The company operates through four segments: Drilling Services, Well Services, Marine Support Services, and Geophysical and Surveying Services. The Drilling Services segment provides drilling, module rigs, land drilling rigs, and drilling rigs management services. As of December 31, 2017, it operated and managed a total of 43 drilling rigs, including 32 jackup drilling rigs and 11 semi-submersible drilling rigs; 3 accommodation rigs; and 5 module rigs. The Well Services segment offers onshore and offshore well services, including logging, drilling and completion fluids, directional drilling, cementing, well completion and workover, stimulation, etc. The Marine Support Services segment owns and operates offshore vessels that provide services for offshore oil and gas fields exploration, development, construction, and production. This segment also offers anchor handling for various water level, towing of drilling rigs/engineering barges, oil lifting, offshore transportation, standby, firefighting, rescue, oil spill assisting, and other marine support services. It operates and manages approximately 130 vessels, including AHTS vessels, platform supply vessels, and oilfield standby vessels. The Geophysical and Surveying Services segment provides offshore seismic acquisition, offshore geo-surveying, seismic data processing and interpretation, and underwater engineering services. It owns five towing streamer seismic vessels, one professional source vessel professional source vessel, two undersea cable team, five integrated marine surveying vessels, and two support vessels. China Oilfield Services Limited also issues bonds. The company is based in Beijing, China. China Oilfield Services Limited is a subsidiary of China National Offshore Oil Corporation. Receive News & Ratings for GLENCORE PLC/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GLENCORE PLC/ADR and related companies with MarketBeat.com's FREE daily email newsletter.
26/9/2018
10:30
the grumpy old men: 4 surprising dividend growth shares? AstraZeneca plc, Barclays PLC, Glencore PLC and BP plc Do these stocks offer upbeat dividend growth outlooks? AstraZeneca plc (LON:AZN) (AZN.L), Barclays PLC (LON:BARC) (BARC.L), Glencore PLC (LON:GLEN) (GLEN.L) and BP plc (LON:BP) (BP.L) September 26, 2018 Robert Stephens FTSE 100 Barclays Barclays The dividend growth outlooks of AstraZeneca plc (LON:AZN) (AZN.L), Barclays PLC (LON:BARC) (BARC.L), Glencore PLC (LON:GLEN) (GLEN.L) and BP plc (LON:BP) (BP.L) could be relatively strong in my view. After a number of years without rising dividends, AstraZeneca is expected to increase shareholder payments in the next financial year. The company’s investment in its pipeline looks set to pay off, with EPS growth of 12% in 2019 being forecast by the stock market. With the company having an increasingly strong position in a number of key markets, its long-term outlook appears to be improving. A dividend yield of 3.7% may not be the highest in the FTSE 100, but AstraZeneca’s dividend growth potential seems to be high. After freezing its dividend in the last couple of years to focus on rebuilding its balance sheet, Barclays is expected to deliver strong dividend growth over the next two years. In fact, by 2019 its dividend payments are forecast to be around 170% higher than they were in 2017. This puts the stock on a forward yield of 4.5%, and suggests that Barclays could be a surprise income option in the long run. Glencore’s share price performance has been relatively disappointing of late. Regulatory concerns and a stronger dollar have caused investor sentiment to come under a degree of pressure. This means that the mining company now has a dividend yield of around 5%. In my view, this provides it with income investing appeal. Clearly, it is a relatively risky and volatile stock which lacks the resilience of some of its FTSE 100 peers. But with a P/E ratio of 9, I feel that Glencore’s risk to reward ratio is relatively appealing. BP’s financial prospects have improved significantly in recent months. A rising oil price means that the company’s EPS growth is expected to positive, although its dividend yield still stands at over 5% in spite of a share price increase. With the BP share price having a P/E ratio of around 13, I feel that it offers good value for money. Since I believe that the oil price could move higher, the stock could deliver improving dividend growth over the medium term. About Robert Stephens 4396 Articles Robert Stephens is a CFA Charterholder and an Equity Analyst by trade. He is a passionate private investor who has been buying and selling shares for many years, owning a wide range of UK shares in the process. He has written for Citywire and The Motley Fool US and now runs his own business. To contact Robert, please email info@investomania.co.uk or use one of the other contact methods available on the 'Contact Us' page
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