London — Glencore, the world’s biggest commodity trader, will reinstate its dividend next year and plans to pay out a minimum of $1bn annually following a rebound in commodity prices and a reduction in its debt. A total of $1bn will be paid out next year in equal parts in the first and second half, the Baar, Switzerland-based company said in a statement on Thursday. From 2018, Glencore will pay $1bn annually as well as at least 25% of free-cash flow from its industrial division. A rally in coal and zinc prices led Glencore shares to triple this year and bolstered profits, easing concern over its debt position. Just over a year ago, a rout in commodities forced the company to unveil a drastic debt-reduction plan involving a $2.5bn share sale, spending cuts, shuttered mines, asset disposals and cancelled dividends. Glencore in November hit its target for asset sales this year of $4bn-$5bn. It also plans to reduce net debt, which stood at about $30bn last year, to between $16.5bn and $...
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