McMoRan Declares Quarterly Cash Dividends on Preferred Stocks

McMoRan has declared, for the period from May 15, 2009 to August 15, 2009, a cash dividend of $1.6875 per share payable on August 15, 2009 to holders of record as of August 1, 2009 for its 6.75% mandatory convertible preferred stock.

McMoRan has also declared, for the period from June 22, 2009 to August 15, 2009, a cash dividend of $11.78 per share of McMoRan's 8% convertible perpetual preferred shares payable on August 15, 2009 to holders of record as of August 1, 2009. Each subsequent quarterly dividend is expected to be $20.00 per share.
 

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