By: Martin Creamer
Upbeat diversified miner and marketer Glencore, which declared an 11% higher dividend for the six months to June 30 on the back of above-consensus half-year results, has put a $1-billion share buy-back programme under starter’s orders, which has evinced mining analyst adulation.
Glencore's shares rose on both the LSE and the JSE soon after the company published its latest set of results on Wednesday, when the board of the London-, Hong Kong- and now also Johannesburg-listed Glencore declared an interim distribution of $0.06 a share, which is 11% up on the 2013 interim distribution.
The company headed by CEO Ivan Glasenberg has now returned more to the market a than the t $7.9-billion it raised at its initial public offering. →