Vale Plans to Buy Back Up to 150 Million Shares
Provided by
Dow Jones
By Jeffrey T. Lewis
SÃO PAULO--Vale is launching a program to buy back up to 150 million of its shares as part of its plan to remunerate shareholders.
The Brazilian iron-ore mining giant also said it will pay out a total of 2.33 reais per share, the equivalent of 47 cents, with BRL1.567 per share as a dividend and BRL0.766 as interest on capital.
The share buyback plan will take place over the next 18 months, Vale said.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
October 26, 2023 16:58 ET (20:58 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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