Freeport-McMoRan Declares Quarterly Cash Dividends on Common Stock

Rhea-AI Summary

Freeport-McMoRan (NYSE: FCX) announced a quarterly cash dividend of $0.15 per share, payable on August 1, 2024, to shareholders recorded by July 15, 2024. The dividend includes a base of $0.075 and a variable $0.075 based on performance. Freeport-McMoRan, a leading copper producer headquartered in Phoenix, operates major assets including the Grasberg minerals district in Indonesia and the Morenci district in Arizona.

Positive

• Freeport-McMoRan declared a total dividend of $0.15 per share, indicating a positive cash flow.
• The dividend combines a base and variable payout, showcasing the company's performance-based payout framework.

Negative

• The discretionary nature of the dividend payment may introduce uncertainty for shareholders.

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 August 1, 2024, to shareholders of record as of July 15, 2024. 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 metals company with the objective of being foremost in copper. Headquartered 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 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/20240625902151/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 amount announced by Freeport-McMoRan (FCX)?

Freeport-McMoRan (FCX) declared a quarterly dividend of $0.15 per share.

When is the payment date for Freeport-McMoRan's (FCX) latest dividend?

The dividend is payable on August 1, 2024.

What is the record date for Freeport-McMoRan's (FCX) dividend?

The record date for the dividend is July 15, 2024.

How is Freeport-McMoRan's (FCX) dividend structured?

The dividend includes a $0.075 base amount and a $0.075 variable amount based on the company's performance.

What factors influence Freeport-McMoRan's (FCX) dividend payment?

The dividend payment is influenced by the company's financial results, cash requirements, global economic conditions, and other relevant factors.