Vale makes bumper $7.6bn dividend payout
SAO PAULO – Brazil's Vale will pay 40.2-billion real ($7.6-billion) in first-half dividends, its largest payout since the miner's 2019 dam collapse which killed almost 300 people.
Vale said in a securities filing released late on Thursday that its board had approved the distribution of 8.11 reais ($1.54) per share as dividends for the first-half 2021, which would be paid on September 30.
It said the payment referred to the anticipation of profit related to the 2021 fiscal year, adding that dividends per share may vary slightly due to its share buy-back program and potential changes in the number of outstanding shares.
In a note to clients, XP analysts said the payout was above expectations and meant a 9.2% dividend yield. XP estimates Vale will pay $13.8-billion in dividends relative to 2021 earnings and rated the stock as buy.
The miner added that its board had also approved the cancellation of 152 016 372 common shares acquired in previous buy-back programs and held in treasury.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation