The dividend will be paid on Dec. 29 to shareholders of record as of Dec. 14.
Currently, there are 197 million shares outstanding and the supplemental dividend payment will cost $296 million
In another press release, the New Orleans-based company, which is engaged in the exploration, mining and production of copper, gold, and silver, said that it has appointed Richard C. Adkerson to its board of directors.
Adkerson is currently working as president and CEO of the company.
Prior to joining Freeport-McMoRan, he worked as a partner in Arthur Andersen, where he headed its global oil and gas practice during the 1980s.
The company's shares closed Tuesday at $60.47, up $1.27, or 2.15%.
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