« Continental Airlines and Its Dispatchers Reach Tentative Agreement on New Labor Contract | Main | Fourth-quarter growth in U.S. GDP revised down to 5.6%; still fastest rate in six years »
Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Common and Preferred Stocks
By Martin | March 26, 2010
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) today declares
the following quarterly cash dividends payable on May 1, 2010 to holders of record as of April 15,
2010:
- $0.15 per share of FCX’s Common Stock (NYSE: FCX).
- $1.6875 per share of FCX’s 6¾% Mandatory Convertible Preferred Stock (NYSE: FCXprM).
This preferred dividend will be the final quarterly cash dividend paid on FCX’s 6¾% Mandatory
Convertible Preferred Stock, which automatically converts on May 1, 2010, into between approximately
39 million and 47 million common shares depending on the applicable average closing market price of
FCX’s common stock over the 20 trading day period beginning on March 31, 2010 and ending on April 28,
2010. If the applicable average closing market price of FCX’s common stock is $72.91 or above then the
conversion rate per $100 face amount of the preferred stock will be 1.3716. The conversion price would
be 1.6460 if such price is at or below $60.75. For average FCX common stock prices between $60.75
and $72.91, the conversion rate will be equal to $100 divided by FCX’s average closing common stock
price during the 20 trading day period.
Topics: Freeport-McMoRan | 4 Comments »
Trackback URL for this post: http://www.tradingpattern.net/2010/03/26/freeport-mcmoran-copper-gold-inc-declares-quarterly-cash-dividends-on-common-and-preferred-stocks-2/trackback/
4 Responses to “Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Common and Preferred Stocks”
Comments
You must be logged in to post a comment.
March 29th, 2010 at 6:21 pm
[...] Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Common and Preferred St… [...]
March 31st, 2010 at 9:44 pm
[...] Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Common and Preferred St… [...]
April 20th, 2010 at 8:12 pm
[...] Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Common and Preferred St… [...]
April 25th, 2010 at 7:06 pm
[...] Freeport-McMoRan Copper & Gold Inc. Declares Quarterly Cash Dividends on Common a&… [...]