- Lower net debt cap brings on dividend cut
- “Normalisation” of energy markets slashes trading profits
Glencore (GLEN) is refuelling its cash generation engine, at least if Gary Nagle’s acquisition and demgerger plan is successful. The company has slashed its dividend to pay back debt taken on for the acquisition of new metallurgical coal mines from Canadian miner Teck Resources (CA:TECK.B), while earnings tumbled due to lower coal prices last year.