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BAAR, SWITZERLAND - Glencore plc announced Friday it has determined the currency exchange rates for its upcoming H2 distribution payment of $0.05 per share, scheduled for September 19.
The mining and commodities trading company confirmed the payment is part of the previously approved aggregate distribution of $0.10 per share for the 2024 financial year, which is being paid in two equal tranches.
Based on closing mid exchange rates from September 4, shareholders on the Jersey register who opted for alternative currencies will receive approximately 0.037241 pounds sterling, 0.042974 euros, or 0.040335 Swiss francs per share.
Glencore noted that shareholders had until September 1 to select their preferred payment currency, with elections remaining in place until revoked by the shareholder.
The company had previously announced the determination of South African rand amounts for shareholders on the Johannesburg register on August 19.
According to the press release statement, the distributions may qualify as "qualified dividends" for U.S. Federal income tax purposes, subject to certain holding period requirements, as Glencore is considered a "qualified foreign corporation" under U.S. tax regulations.
The distribution represents a repayment from the company’s capital contribution reserves.
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