Brazilian miner Vale says entering new era of big dividends

“Now is the era of the Vale dividends. Vale will become a big payer of dividends if everything goes well,” Schvartsman said, reiterating that a new dividend plan would be released in March, without stating an amount.

In April Vale paid out 0.905 reais per share.

Vale shareholders, he said, supported the company in tough times when metal prices were low and now is “Vale’s time to pay it back.”

Inclusion of Vale shares in the so-called Novo Mercado segment of the Sao Paulo stock exchange came after the world’s top iron-ore producer converted different classes of stock into a single common one, reducing room for state interference.

In August, Vale’s CFO Luciano Siani said the move would help the company lure more Asian investors and specialised mining and metals funds as shareholders.

Schvartsman echoed the sentiment on Friday.

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