McMoRan to cut dividend and slash costs as coronavirus spreads [Reuters]
Freeport-McMoRan, Inc. (FCX)
Last freeport-mcmoran, inc. earnings: 4/24 07:30 am
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Source: Reuters
McMoRan to cut dividend and slash costs as coronavirus spreads (Reuters) - Freeport-McMoRan Inc, the world’s largest publicly traded copper producer, said on Monday it will stop dividend payouts and slash costs and output due to the rapid worldwide spread of the coronavirus pandemic. The drastic move underscores how fast the virus, which causes a sometimes deadly respiratory illness known as COVID-19, has torn through the global economy and affected demand for the key metals that underpin it. Prices for copper, widely used in construction and manufacturing, are down more than 22% since January. Phoenix-based Freeport said it will cut its 5-cent dividend, saving about $291 million annually. The company also is looking to slash costs and production at its mines across the world, including the world’s largest gold mine and second-largest copper mine at Grasberg, Indonesia. It was the company’s first dividend cut since 2015. “The COVID-19 pandemic has drastically altered our world, bringi
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- Freeport-McMoRan (FCX) Surpasses Market Returns: Some Facts Worth Knowing [Yahoo! Finance]Yahoo! Finance
- Freeport McMoRan: Uncertainty at the Grasberg Mine. [Yahoo! Finance]Yahoo! Finance
- Why Freeport-McMoRan (FCX) Dipped More Than Broader Market Today [Yahoo! Finance]Yahoo! Finance
- Freeport Declares Quarterly Cash Dividends on Common StockBusiness Wire
- 3 Dividend Stocks Down 2%, 7%, and 10% to Buy Before the New Year [Yahoo! Finance]Yahoo! Finance
FCX
Earnings
- 10/22/24 - Miss
FCX
Sec Filings
- 11/12/24 - Form 4
- 11/12/24 - Form SC
- 11/12/24 - Form 144
- FCX's page on the SEC website