Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock

Rhea-AI Summary

Freeport-McMoRan Inc. (NYSE: FCX) announced a cash dividend of $0.15 per share on its common stock, payable on May 1, 2023, to shareholders on record as of April 14, 2023. This dividend comprises a base and variable component, each of $0.075 per share, determined through its performance-based payout framework. The Board of Directors will consider FCX's financial results and broader economic conditions before future dividend payments. FCX is a major player in copper production and operates globally with significant reserves.

Positive

• Declared cash dividend of $0.15 per share, enhancing shareholder income.
• Includes a performance-based variable dividend, indicating company confidence.

Negative

• None.

PHOENIX--(BUSINESS WIRE)-- Freeport-McMoRan Inc. (NYSE: FCX) announced today that its Board of Directors declared cash dividends of $0.15 per share on FCX’s common stock payable on May 1, 2023, to shareholders of record as of April 14, 2023. The declaration includes a base dividend of $0.075 per share and variable dividend of $0.075 per share in accordance with FCX's performance-based payout framework. The payment of dividends is at the discretion of the Board, which will consider FCX's financial results, cash requirements, global economic conditions and other factors it deems relevant.

FREEPORT: Foremost in Copper

FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.

FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru.

By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world well beyond its operational boundaries. Additional information about FCX is available on FCX's website at fcx.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230321005981/en/

Financial Contact:

David P. Joint

(504) 582-4203

Media Contact:

Linda S. Hayes

(602) 366-7824

Source: Freeport-McMoRan Inc.

FAQ

What is the dividend payment date for FCX?

The dividend payment date for FCX is May 1, 2023.

What is the amount of the dividend declared by Freeport-McMoRan?

Freeport-McMoRan declared a cash dividend of $0.15 per share.

When is the record date for FCX's dividend?

The record date for FCX's dividend is April 14, 2023.

Is the dividend from FCX sustainable?

The sustainability of FCX's dividend depends on future financial results and economic conditions.