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Glencore confirms dividend policy, EBIT guidance

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Glencore confirms dividend policy, EBIT guidance

Glencore confirms dividend policy, EBIT guidance
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LONDON (Reuters) - Miner and trader Glencore on Tuesday in an update for investors said its 2017 marketing EBIT (earnings before interest and tax) would be at the top end of its previous guidance at $2.8 billion (2.1 billion pounds).

Glencore in October had raised its marketing division's full-year EBIT guidance to between $2.6 billion and $2.8 billion, reflecting higher raw materials prices.

The company also confirmed its 2018 dividend policy would include a fixed dividend of $1 billion and said it would reactivate idled capacity "when appropriate".

The market has been waiting for news of when Glencore might bring back to the market zinc capacity idled in 2015 when commodity prices were crashing.

(Reporting by Barbara Lewis in London and Arathy S Nair in Bengaluru)

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