Glencore said on Aug. 5 it would return $2.8 billion to shareholders this year, $1.2 billion more than previously announced, after soaring commodity prices boosted its earnings in the first half of the year.
The London-listed mining and trading firm reported adjusted EBITDA for the first six months of 2021 of $8.7 billion, compared with $4.8 billion a year earlier. Analysts polled by Refinitiv had expected $8.4 billion.# The higher commodity prices also allowed Glencore to reduce net debt to $10.6 billion from $15.8 billion at the end of 2020. Its target range for net debt is between $10 billion and $16 billion.The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, November 20, 2012.
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