Glencore To Pay Out $7 Billion In Dividends And Buybacks

Glencore will hand out over £5.8bn ($7bn) to shareholders in dividends and buybacks after the commodities giant posted another period of bumper revenues and profits powered by its coal and trading divisions.

Glencore announced it will make a record payout to shareholders of $5.1bn dividend, a top up payment of $500m and buyback of $1.5bn.

Revenues have soared 26 percent to $255.9bn, while core profits climbed 60 percent to a record $34.1bn, which included $18.6bn from the energy business that features coal production.