The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

Molycorp Declares Preferred Dividends

Thursday, February 02, 2012

Molycorp Declares Preferred Dividends07:00 EST Thursday, February 02, 2012 GREENWOOD VILLAGE, Colo. (Business Wire) -- Molycorp, Inc. (NYSE: MCP), 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 March 1, 2012 to the holders of record of shares of Series A mandatory convertible preferred stock at the close of business on February 15, 2012. As of Feb. 1, 2011, there were a total of 2,070,000 shares of Series A mandatory convertible preferred stock outstanding. About Molycorp, Inc. With offices in the U.S., Europe, and Japan, Molycorp, Inc. is the only U.S-based company that is fully integrated across the rare earth mine-to-magnets supply chain. In addition to its current production of rare earth oxides at its flagship rare earth mine and processing facility at Mountain Pass, California, the Company produces rare earth metals, rare earth alloys (such as neodymium-iron-boron and samarium-cobalt alloys) and rare metals such as niobium and tantalum. The rare earths and rare metals Molycorp produces are critical inputs in existing and emerging applications including: clean energy technologies, such as hybrid and electric vehicles and wind power turbines; multiple high-tech uses, including fiber optics, lasers and hard disk drives; numerous defense applications, such as guidance and control systems and global positioning systems; advanced water treatment technology for use in industrial, military and outdoor recreation applications; and other technologies. For more information please visit www.molycorp.com. Molycorp, Inc.Jim Sims, +1 303-843-8062Vice President Corporate CommunicationsJim.Sims@Molycorp.comorBrian Blackman, +1 303-843-8067Senior Manager, Investor RelationsBrian.Blackman@Molycorp.com