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Freeport-McMoRan Declares Extra Dividend

The metals miner will pay an additional $1.50 a share.

Freeport-McMoRan (FCX) - Get Freeport-McMoRan, Inc. (FCX) Report has declared a supplemental dividend of $1.50 a share.

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.

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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%.

This story was created through a joint venture between TheStreet.com and IRIS.