Freeport-McMoran Inc. - FCX STOCK NEWS

Freeport-McMoRan Inc. (NYSE: FCX) has declared a cash dividend of $0.15 per share on its common stock, set for payment on May 2, 2022. Shareholders of record as of April 14, 2022 will receive this dividend as part of FCX’s performance-based payout strategy, which includes both a base and variable dividend established in November 2021.

FCX is a key player in copper production, operating worldwide, including major assets in Indonesia, North America, and South America.

Freeport-McMoRan (NYSE: FCX) announced its financial and operational results for the fourth quarter and year ended 2021. The report highlights FCX's significant assets, including operations in the Grasberg minerals district (Indonesia) and large-scale mining in North and South America. FCX is recognized as one of the largest publicly traded copper producers globally, with a commitment to responsibly produced copper. The company hosted a conference call on the results, accessible via its Investor Relations page. For more details, visit fcx.com.

Freeport-McMoRan (NYSE: FCX) announced a cash dividend of $0.15 per share, payable on February 1, 2022, to shareholders on record as of January 14, 2022. This includes a $0.075 quarterly base and a $0.075 variable cash dividend. Following debt targets, FCX aims for total dividends of $0.60 per share for 2022, alongside a $3.0 billion share repurchase program to enhance shareholder returns. The Board will review payout structures annually.

Freeport-McMoRan (NYSE: FCX) has appointed Hugh Grant to its Board of Directors, bringing extensive experience from his tenure as Chairman and CEO of Monsanto. With a career spanning 37 years at Monsanto, Mr. Grant has significant operational and strategic insight, particularly in technology and environmental sectors. Chairman Richard C. Adkerson highlighted the positive impact of Grant's appointment in guiding FCX's strategy in the global copper industry. FCX's Board now consists of eleven members, with a focus on diverse expertise to support stakeholder interests.

Freeport-McMoRan (NYSE: FCX) has appointed Maree E. Robertson as the new Senior Vice President and Chief Financial Officer, effective March 1, 2022. Maree will oversee accounting, finance, and tax functions while reporting to Kathleen L. Quirk, the current President and CFO. With a solid background in international mining from Rio Tinto and BHP Group, Maree brings vast experience to the role. The company anticipates that her expertise will enhance stakeholder value and drive financial performance.

Freeport-McMoRan Inc. (NYSE: FCX) has announced a new $3.0 billion share repurchase program and a variable cash dividend for 2022, expected at $0.30 per share. The combined dividend will total $0.60 per share annually, with an estimated $0.9 billion allocated for common stock dividends. This initiative aligns with FCX's performance-based payout framework, aiming to balance cash returns to shareholders while maintaining a strong balance sheet. The Board will review the payout structure annually, subject to market conditions.

Freeport-McMoRan (NYSE: FCX) has appointed Ryan M. Lance to its Board of Directors and the Corporate Responsibility Committee. Lance, currently the CEO of ConocoPhillips, brings 37 years of experience in the oil and gas industry. His expertise is expected to strengthen FCX's leadership, which now includes a total of ten board members, with nine being independent directors. Chairman Richard C. Adkerson welcomed Lance, highlighting the value of his global business insight for FCX's future.

Freeport-McMoRan Inc. (NYSE: FCX) has released its Q3 2021 financial results, available on its Investor Relations website. The company will host a conference call with analysts at 10:00 a.m. Eastern Time to discuss these results, which can also be accessed via webcast. FCX is a prominent international mining company, recognized for its significant copper, gold, and molybdenum reserves. Its major assets include the Grasberg minerals district in Indonesia and operations in North and South America, including Morenci in Arizona and Cerro Verde in Peru.

Freeport-McMoRan (NYSE: FCX) announced the redemption of all $524 million of its 3.55% Senior Notes due 2022 on December 1, 2021. The total redemption price will cover the principal amount and accrued interest. As of September 30, 2021, FCX had consolidated debt of $9.7 billion and cash equivalents of $7.7 billion, with annual interest costs for these notes approximating $19 million. This strategic move reflects FCX's ongoing efforts to manage its financial obligations efficiently.