"April 21, 2016 – Southern Copper Corporation (NYSE and LSE: SCCO) announced today a quarterly dividend of $0.05 per share of common stock, payable on May 24, 2016, to shareholders of record at the close of business on May 10, 2016."
OK .... I'll bite.
Most of the copper will still be in the ground and the cost per pound will in excess of $3.
SCCO dividends will increase sharply assuming it is not taken private.
1/28 press release announcing paltry 3 cent dividend says scco 88.8% owned by grupo vs 87.5% in 10/22/15 press release announcing 3Q dividend. Grupo using dividend money to buy out non grupo shareholders without paying a take-out premium.
I predict grupo forces all out before end of 2016 for no more than a 15% premium.
Mixed signals. WSJ
Copper Rises on Strong Chinese Imports
Concerns about impact of Chinese slowdown alleviated
Updated Jan. 26, 2016 7:59 a.m. ET
LONDON—Copper prices rose above a key psychological level Tuesday after strong import data out of China alleviated concerns about demand for the commodity from its biggest customer.
The London Metal Exchange’s three-month copper contract gained 2.1% to $4,509.5 a metric ton in early afternoon European trade, moving above $4,500 a ton for the first time in two weeks.
Copper has shed almost 3% of its value since the start of the year, largely because of concerns about the health of the Chinese economy. China accounts for roughly 45% of global copper demand.
On Tuesday, China’s General Administration of Customs said refined copper imports in December weighed in at 423,181 tons, a rise of 34% compared with the same period last year, and the fourth consecutive month of strong imports. Between January and December, imports were up 2.5% on the year at 3.7 million tons.
“Despite headlines suggesting that China’s economy is collapsing, metals demand is actually picking up,” Oliver Jones, an economist at Capital Economics, wrote in a research note.
Analysts believe further gains for copper prices won’t come without a rebound in oil markets, which are dictating sentiment across markets.
“Our core view is that oil prices will rebound in the second half of the year, which would help drag up commodities [such as copper],” said David Wilson, director of metals research and strategy at Citigroup Inc.
Among other base metals, aluminum was up 0.4% at $1,482 a ton, zinc was up 2.2% at $1,549 a ton, nickel was up 0.1% at $8,560 a ton, lead was up 1% at $1,639 a ton and tin was up at 1.5% at $13,875 a ton.
Wow! Where has everyone gone? I guess since SCCO has dropped to it's lousy lows no-one wants to talk! Today is the biggest gain I have seen in a loooong time... Wonder if it will build from here? To good to be true!
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Better use for the money elsewhere. In my opinion, Grupo will force us out prior to the end of 2016 at a 15% premium to market with a very low dividend yield while we wait. I also saw a double in NRE before the end of 2016 with a dividend yield of almost 6% on my cost. I had enough energy losses to offset the big tax gain on scco, so I switched the cash from scco to nre.