Sunday, December 19, 2010

Freeport-McMoRan Boosts Dividends: A Great Play on Copper

Invest Chief submits:

Freeport-McMoRan (FCX), came out with some big announcements last week: a 2-1 stock split and a $1/share special dividend. FCX closed up 2% Friday at $110.66 on the news.

The stock split was approved by the board of directors Friday and will take place in February 2011. As for the special dividend, the payments will be sent out on December 30 for all shareholders that hold the stock as of December 20. You have some time to get a stake in FCX to reap this special dividend.


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