Glencore to boost share buyback program by up to $US1b
Glencore to boost share buyback program by up to $US1bSeptember 26 2018 - 7:10AM. Johannesburg | Glencore will double the size of its buyback plan by purchasing another $US1 billion of stock just 11 weeks after starting the program, adding to a growing number of moves by the world's biggest miners this year to return more money to investors. The second buyback this year comes earlier than many investors would have expected after the company suggested in August that it could extend the program in November or December, rather than waiting for full-year results in early 2019. Glencore has almost completed its first buyback, having bought $US940 million of its own stock after the shares fell to a 14-month low in September as part of a wider commodity sell off. While its rivals have been returning money from disposals, Glencore has been using cash from the business.