Glencore and Xstrata to present united front The plan comes as Mr Glasenberg, chief executive of Glencore, is set to receive a $109m (£69m) dividend as the commodities producer and trader pays its maiden full-year dividend. Glencore is expected to announce a 6.3p-a-share payment today with its first set of full-year results since its flotation last year. While Mr Glasenberg's base salary is £925,000, his 15.8pc stake in the business will mean he can take a bumper dividend payment. Mr Glasenberg is due to use the results to promote the deal to shareholders of Xstrata, who would swap their shares for Glencore's in a newly merged company. The terms - 2.8 Glencore shares for every one in Xstrata - are seen by some institutions as insufficient. Mr Glasenberg and Mr Davis are expected to begin a charm offensive to win over Xstrata shareholders such as Standard Life, Schroders, Royal London and Qatar, the Gulf state. Some shareholders have grown frustrated by a lack of communication from Glencore. For the deal to go through, 75pc of Xstrata shareholders must back it. Since Glencore can't use its 34pc stake in Xstrata, the merger could be blocked if just 16.4pc of shareholders vote against it.