11/28/2016
Vale approves payment of shareholder remuneration
Rio de Janeiro, November 28th, 2016 – Vale S.A. (Vale) informs that its Executive Board proposed and its Board of Directors approved the payment of shareholder remuneration as an anticipation of the mandatory distribution of 2016 results, totaling the gross amount of R$ 856,975,000.00 (US$ 250 million), equals to R$ 0.166293936 (US$ 0.048511898) per common or preferred share in circulation as of November 25th, 2016 (5,153,374,926 shares).
The payment of R$ 856,975,000.00 will be made as of December 16th, 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 25th, 2016 of R$ 3.4279 per US dollar.
The record date for the owners of shares traded on the BM&F Bovespa is December 1st, 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 6th, 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 23rd, 2016.
Vale shares will start trading ex-dividend on BM&FBovespa, NYSE and Euronext Paris as of December 2nd, 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.
Quelle: www.vale.com/brasil/EN/investors/...emuneration-1128-7921.aspx