Plains Exploration & Production (PXP) announced Monday morning that its Board of Directors received the approval of Freeport-McMoRan Copper & Gold (FCX) to declare a special one-time cash dividend of $3.00 per share. The dividend will be conditioned upon and paid immediately prior to the completion of PXP's merger with Freeport-McMoRan.
Plains Exploration & Production gapped open sharply higher this morning and is now up 3.42 at $48.97. The stock has broken out past resistance and has set a new high for the year.
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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.