SAO PAULO – Board members of Brazilian miner Vale will discuss in a meeting on Thursday a new dividend policy, according to a Wednesday report by newspaper Valor Econômico.
Under the new policy, Vale would calculate dividend payouts based on its earnings before interest, tax, depreciation and amortisation, a gauge of operating profitability known as EBITDA, Valor said, citing sources close to the discussions.
That would allow the miner to pay between 30% and 50% of its net income, according to the report.
A press representative for Vale declined to comment immediately on the matter.