Glencore: redistributions with strong H1 results
(CercleFinance.com) - Glencore shares are flat in London, despite the commodities group announcing a 4.
5 billion dollar payout to its shareholders, in both dividends (1.45 billion dollars) and share buybacks (three billion dollars) on the sidelines of its interim results.
In H1 the group more than doubled (+119%) its adjusted EBITDA to 18.9 billion dollars, against a backdrop of record prices for certain raw materials stemming from the geopolitical and macroeconomic context that has disrupted the period.
However, management said that looking ahead, tighter financial conditions and a deteriorating macroeconomic environment present some uncertainty for commodity markets throughout the second half of the year.
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