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Vale: Company pointed out that Vale's new dividend policy is the "beginning of the year". of a new era for its shareholders "(Pilar Olivares / Reuters)
Rio de Janeiro – The mining company Vale announced Wednesday that its board of directors had approved the payment of shareholders' compensation of R $ 7.69 billion, equivalent to R $ 1.48 per share, of which R $ 6.8 billion of interest on capital and R $ 892.6 million under Dividend form.
The payment of the remuneration will take place on September 20, 2018. According to the company, this will be the highest remuneration since one semester since 2014.
Leading producer and exporter of iron ore, Vale released its results in the second quarter of the year.
Not reported the company pointed out that Vale's new dividend policy is the "beginning of a new era for its shareholders".
In addition, the board of directors uve the proposal of the board of directors to launch a common share stock repurchase program limited to a maximum of 80 million common shares and their respective ADS, and a maximum value of Billion dollars.
The decision, according to the company reflects "the confidence of the managers who buy back Vale's own shares constitute one of the best investments for the surpluses of the Company, after the strong generation of cash in the first half of 2018, the accelerated deleveraging profile and the positive outlook for Vale's operational and financial performance. "[19659009] The repurchase program will last up to 365 days and the repurchased shares will be canceled after the end of the year. program and / or sales
The Company reported net income of $ 306 million in the second quarter, approximately five times higher than the same period of 2017 ($ 60 million), but a strong the comparison with the first quarter was down, whereas it was 5.1 billion reais, with the result strongly influenced by the exchange rate.
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