Molycorp Declares Preferred Dividend
August 1, 2013 (Source: Marketwatch) — Molycorp, Inc. MCP +0.40% today announced that its Board of Directors has elected to declare a cash dividend on outstanding shares of its 5.50% Series A mandatory convertible preferred stock in an amount equal to $1.375 per share. Molycorp will pay the dividend on September 1, 2013 to the holders of record of shares of Series A mandatory convertible preferred stock at the close of business on August 15, 2013. As of August 1, 2013, there were a total of 2,070,000 shares of Series A mandatory convertible preferred stock outstanding.
# # #
For more information:
Jim Sims, +1 (303) 843-8062
Vice President, Corporate Communications
Brian Blackman, +1 (303) 843-8067
Vice President, Investor Relations
About Molycorp, Inc.
Molycorp is the only advanced material manufacturer in the world that both controls a world-class rare earth resource and can produce high-purity, custom engineered rare earth products to meet increasingly demanding customer specifications. A globally integrated manufacturer, the Company produces a wide variety of specialized products from 13 different rare earths (lights and heavies), five rare metals (gallium, indium, rhenium, tantalum and niobium), and the transition metals yttrium and zirconium. With 27 locations across 11 countries, Molycorp produces rare earth magnetic materials through its Molycorp Magnequench subsidiary, including neodymium-iron-boron (NdFeB) magnet powders, used to manufacture bonded NdFeB permanent rare earth magnets. Through its joint venture with Daido Steel and the Mitsubishi Corporation, Molycorp manufactures next-generation, sintered NdFeB permanent rare earth magnets. The Company also markets and sells a line of rare earth-based water treatment products through its Molycorp Advanced Water Technologies subsidiary. For more information please visit www.molycorp.com.
Copyright (C) 2013 Molycorp, Inc., All rights reserved.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Get our daily investorintel update
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.