The Swiss mining giant Glencore closes 2021 with record numbers thanks tosoaring commodity prices. The preliminary data released by the company speak of net income of $4,97 billion, a result that compares with the loss of 1,9 billion recorded in 2020.
Il turnover instead it soars by 43%, to 203,75 billion. On the profitability side, theadjusted ebitda it stands at 21,3 billion, up 84%.
Glencore dividend and buyback
Glencore's Board of Directors proposes to the shareholders' meeting a basic dividend of $0,26 per share.
Furthermore, the board announces a plan of buyback of own shares $ 550 million.
In all, therefore - thanks to the record financial results propitiated by the increases in commodity prices - Glencore will distribute to shareholders about four billion dollars.
The words of the CEO
“Despite the ongoing challenges of Covid-19 – he comments Gary Nagle, chief executive officer of the mining group – 2021 has been a remarkable year for Glencore, due to growing demand for our metals and energy products, record adjusted EBITDA and a move to new leadership.”
Bluebell pressures
We come now to the field of indiscretions. From a letter dated January 24 and quoted yesterday by the Reuters agency it emerges that the activist investor Bluebell Capital Partners is pressuring Glencore to I separated the thermal coal businesswhile still maintaining control. In particular, the text suggests a new shareholding structure with A and B shares.
In the past Bluebell – which is based in London but has Italian top management (Francesco Trapani, Giuseppe Bivona and Marco Taricco) – had already made a request of this type to Glencore, with the aim of allowing more investors to buy the shares. However, Nagle had specified that none of the main shareholders was asking for a spin-off.
Glencore's public stock
At mid-morning the Glencore title on the London Stock Exchange gains 2,9%, to £434,30.
