Vale proposes US$ 4 billion for 2013 minimum dividend01/28/2013
Vale announces that its Executive Board has approved and will submit to the Board of Directors a proposal for the distribution of a minimum dividend of US$ 4 billion in 2013, equivalent to US$ 0.776190372 per share for both common and preferred shares outstanding, to be distributed in two installments, on April 30 and October 31, 2013.
The Board of Directors will evaluate the proposal submitted by the senior management, regarding each installment, in the meetings scheduled for April 16 and October 17, 2013.
If the proposal is approved by our Board of Directors, the payment of each installment will be made in Brazilian reais, calculated on the basis of the Brazilian real/US dollar exchange rate (Ptax – option 5) published by the Central Bank of Brazil on the business day prior to the Board of Directors meeting that approves the dividend proposal.
The proposed minimum dividend is consistent with Vale’s financial policy, which aims to provide a strong support to the exploitation of profitable growth opportunities alongside the preservation of a sound balance sheet simultaneously with the focus on discipline in capital allocation.« back