The payment of R$ 856,975,000.00 will be made as of December 16, 2016, fully in the form of interest on equity. The values in Brazilian reais were obtained from the conversion of US dollar value into Brazillian reais using the exchange rate for the sale of US dollar (Ptax - Option 5 code), as informed by the Central Bank of Brazil on November 25, 2016 of R$ 3.4279 per US dollar.
The record date for the owners of shares traded on the BM&F Bovespa is December 1, 2016. The record date for the holders of American Depositary Receipts (ADRs) traded on the New York Stock Exchange (NYSE) and Euronext Paris is on December 6, 2016. All shareholders on these respective record dates will have the right to shareholder remuneration.
The holders of ADRs will receive the payment through Citibank N.A., the depositary agent for the ADRs, on December 23, 2016.
Vale shares will start trading ex-dividend on BM&FBovespa, NYSE and Euronext Paris as of December 2, 2016.
The approval is in accordance with the new shareholder remuneration policy that gives the optionality to the Executive Board to propose to the Board of Directors, based on the analysis of the Company's cash flows and the availability of profits or reserves of profits, distribution to shareholders of remuneration at any time of the year.
The improved outlook for our business and the better than expected cash flow generation supports the approved payment without compromising the goal of reducing indebtedness.
|
Vale SA published this content on 28 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 November 2016 21:44:02 UTC.
Original documenthttp://www.vale.com/EN/investors/information-market/Press-Releases/Pages/Vale-approves-payment-of-shareholder-remuneration-1128-7921.aspx
Public permalinkhttp://www.publicnow.com/view/7EC09EEEEEEC48FDF4750C9B95A177040F20E482