Summary
Freeport-McMoRan Inc. (FCX) announced on December 9, 2010, two significant corporate actions approved by its Board of Directors. Firstly, the company declared a supplemental stock dividend of $1.00 per share, payable on December 30, 2010, to shareholders of record on December 20, 2010. This dividend provides direct cash return to shareholders. Secondly, and perhaps more notably for long-term investors, FCX announced a two-for-one stock split, to be effected as a stock dividend. This split is scheduled to be payable on February 1, 2011, to shareholders of record on January 15, 2011. A stock split typically aims to make the stock more accessible to a broader range of investors by lowering the per-share price, potentially increasing liquidity and trading volume.
Key Highlights
- 1Declaration of a $1.00 per share supplemental stock dividend.
- 2Dividend payment date set for December 30, 2010.
- 3Record date for the supplemental dividend is December 20, 2010.
- 4Announcement of a two-for-one stock split.
- 5Stock split will be executed as a stock dividend.
- 6Stock split payable date is February 1, 2011.
- 7Record date for the stock split is January 15, 2011.