Plains Exploration & Production Company (PXP) announced it has received the approval of Freeport-McMoRan Copper & Gold Inc. (FCX) for Board to declare a special one-time cash dividend of $3.00 per share. The Board intends to declare the dividend to stockholders as of May 30, 2013, the expected dividend record date. The dividend will be paid immediately prior to the completion of merger with Freeport-McMoRan Copper & Gold Inc.
Freeport-McMoRan Copper & Gold Inc. (FCX) announced that its Board intends to declare a supplemental dividend of $1.00 per share of common stock immediately following the closing of the pending acquisition of Plains Exploration & Production Company. The payment of the dividend is intended to benefit both current shareholders and the Freeport-McMoRan shares to be issued in connection with the pending acquisition.
Freeport-McMoRan Copper & Gold also announced that, assuming completion of the pending acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co. (MMR), it plans to complete $1.5 billion in asset sales from the combined company and/or to reduce its capital spending plans.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.