Glencore to Return $4 Billion to Shareholders After Record 2021 Earnings
February 15 2022 - 2:42AM
Dow Jones News
By Jaime Llinares Taboada
Glencore PLC said Tuesday that it will return $4.0 billion to
shareholders after reporting record 2021 earnings on the back of
higher commodity prices.
The Anglo-Swiss commodity mining and trading major declared a
base distribution of $3.4 billion, or $0.26 a share, in respect of
2021 cash flows, and a $550 million share-buyback program.
Glencore reported record adjusted earnings before interest,
taxes, depreciation and amortization of $21.32 billion for 2021, up
from $11.56 billion in 2020 and slightly above market consensus of
$21.24 billion, compiled by the company and based on 15 analysts'
estimates.
Full-year net profit was $4.97 billion compared with a $1.90
billion loss a year earlier.
"In spite of the ongoing challenges of Covid-19, 2021 was an
extraordinary year for Glencore, reflecting rising demand for our
metals and energy products, record adjusted Ebitda and the
transition to new leadership," Chief Executive Gary Nagle said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
February 15, 2022 02:27 ET (07:27 GMT)
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