Global Mining Finances: Vale proposes dividends payment to shareholders

Vale has announced that the company Executive Board approved and will submit to the Board of Directors a proposal for the second tranche of the minimum dividend to shareholders in 2014, worth $ 2.1 billion, as it announced to the market on January 30th, equivalent to $0.407499945 per common or preferred share outstanding, based on the number of shares on August 29, 2014 (5.153.374.926).

The Board of Directors of Vale will appreciate the proposal of the Executive Board at the meeting scheduled for October 16th and, if approved, the payment of $ 2.1 billion will be held on October 31, 2014.

Once the proposal is approved by the Board all investors who hold Vale shares at the record dates will have the right to receive compensation. The record date for shares of Vale traded on the BM & FBovespa will be on October 16th. The record date for holders of ADRs issued by Vale traded on the New York Stock Exchange (NYSE) and Euronext Paris will be October 21th 2014 and for the holders of HDRs issued by Vale traded on Hong Kong Stock Exchange (HKEx) will be the close of trading in Hong Kong on October 21th, 2014.

Vale shares will be traded ex-rights from today, 17 on the BM & FBovespa, NYSE and Euronext Paris and from October 20, 2014 in HKEx. If the proposal is approved by the Council – computing the first tranche of the minimum dividend pay from April 30th, Vale will have distributed to its shareholders $ 4.2 billion in 2014.

Investors owning shares of Vale who wish to automatically reapply the dividend for shares of Vale may join the “Vale Investir” program, getting in touch with the banks accredited to carry out this sort of operation (Bradesco Bank and Banco do Brasil).(Source: VALE SA)