On 1 December 2016, Glencore announced that it would reinstate its distribution, following the suspension of final distribution for 2015 and the interim distribution for 2016. In 2017, a distribution of $1 billion, will be paid in equal tranches in the first and second half of the year. From 2018, a new distribution policy will take effect, consisting of a fixed $1 billion base distribution, reflecting the resilience, predictability and stability of marketing cash flows; plus a variable distribution representing a minimum payout of 25% of industrial free cash flow.
The Board will review this matter on a regular basis.
Distributions will be declared and paid in US dollars; however, shareholders on the Jersey register may elect to receive their distribution payments in pounds sterling, euros or Swiss francs. Shareholders on the Hong Kong branch register will receive their distributions in HK dollars. Shareholders on the Johannesburg register will receive their distributions in South African Rand.
Glencore distributions are currently paid from a capital contribution reserve. This applies to all historical cash distributions. For information on tax treatment please contact your tax advisor.
For all distribution payment queries please contact the Company's registrar at:
Computershare Investor Services (Jersey) Ltd
Channel Islands JE1 1ES
Shareholder helpline: +44 (0) 870 707 4040
Shareholder fax number: +44 (0) 870 873 5851
Shareholder email: firstname.lastname@example.org
Hong Kong shareholders
Computershare Hong Kong Investor Services Limited
17M Floor, Hopewell Centre
183 Queens Road East
Wanchai, Hong Kong
Tel: +852 2862 8555
Computershare Investor Services Limited
70 Marshall Street
Tel: +27 861 100 933