Glencore: reports record earnings, but shares stall

(CercleFinance.com) - Global miner Glencore has announced record adjusted EBITDA for 2018, despite a challenging environment, but the performance has failed to convince investors.


The Swiss-based company - which produces and markets over 90 commodities - said adjusted EBITDA increased 8% to 15.8 billion dollars last year.

Net income before significant items rose 5% to 5.8 billion dollars.

After returning 5.2 billion dollars to shareholders in 2018, for 2019 the company recommends a base distribution of 0.20 dollar per share, representing a total of 2.8 billion dollars, payable in two installments this year.

Glencore also announced today a new 2 billion dollar share buyback program, which will run until the end of 2019.

However, these measures have failed to lift the shares much this morning, with the stock up just 0.5% in London.

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