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 [email protected]
Read the full article here