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Mining industry

Freeport-McMoRan Copper & Gold Inc. Declares Cash Dividends for Multiple Security Types

Strategic Insights

— 1 min read

Freeport-McMoRan Copper & Gold Inc. has declared cash dividends for various security types, marking a significant move in the company's dividend policy. The declared dividend amounts vary across different securities, including common stock, depositary shares, and preferred stock. This announcement comes as part of the company's effort to reward its shareholders and reflect its financial performance. Notably, the dividend policy has been revised to increase the regular quarterly cash dividend for common stockholders.

Key Takeaways:

  • The company declared a cash dividend of $.225 per share on the FCX Class A and Class B common stock for the three months ended September 30, 1995.
  • A cash dividend of $.4375 per depositary share was declared for holders of FCX's depositary shares (NYSE: FCX Pr), representing the company's 7% Convertible Exchangeable Preferred Stock.
  • The dividend is payable November 1, 1995, to all common shareholders and depositary shareholders of record at the close of business on October 16, 1995.
  • The declared dividend amounts include $.3125 per depositary share for FCX's depositary shares (NYSE: FCX Pr A), representing the company's Step-Up Convertible Preferred Stock.
  • A cash dividend of $.33553 per depositary share was declared for holders of FCX's depositary shares (NYSE: FCX Pr B), representing the company's Gold-Denominated Preferred Stock.
  • The dividend for FCX's depositary shares (NYSE: FCX Pr C), representing the company's Gold-Denominated Preferred Stock, Series II, is equivalent to $.31156 per depositary share.
  • A cash dividend of $.22400 per depositary share was declared for holders of FCX's depositary shares (NYSE: FCX Pr D), representing the company's Silver-Denominated Preferred Stock.

Statistics:

  • The regular quarterly cash dividend for common stockholders has been increased to $.225 per share from $.15 per share.
  • The dividend for depositary shares representing 7% Convertible Exchangeable Preferred Stock is equivalent to $.4375 per depositary share.
  • The dividend for depositary shares representing Step-Up Convertible Preferred Stock is equivalent to $.3125 per depositary share.
  • The dividend for depositary shares representing Gold-Denominated Preferred Stock and Gold-Denominated Preferred Stock, Series II, is equivalent to $.33553 and $.31156 per depositary share, respectively.
  • The dividend for depositary shares representing Silver-Denominated Preferred Stock is equivalent to $.22400 per depositary share.

Sources:

  • Business Wire, "Freeport-McMoRan Copper & Gold Inc. Declares Cash Dividends," October 5, 1995.
  • Freeport-McMoRan Copper & Gold, Inc., Press Release, October 5, 1995.

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