Glencore defers dividend to protect credit rating amid Covid-19 crisis

Tue, 31st Mar 2020

Miner and commodities trader Glencore deferred its dividend to support a commitment to maintain its investment grade credit rating amid the Covid-19 crisis. The company had intended to make a cash distribution of $0.20 per share in 2020. Glencore said there was a risk the disease outbreak would materially disrupt its production. It added that it would make a decision on what level of payout would be appropriate this year when it had a clearer picture of Covid-19's impact, expected alongside the release of its interim results in the third quarter. At 3:05pm: (LON:GLEN) Glencore PLC share price was +0.66p at 119.66p Story provided by StockMarketWire.com

FTSE 100 Latest
Value6,083.08
Change-135.71