Vale undecided on resuming dividends

Vale undecided on resuming dividends

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Brazilian miner and iron ore producer Vale said it is yet to make a decision on whether it will resume paying dividends. The company said it is constantly discussing how to better allocate its capital and so far, it hasn’t set a policy on paying dividends.

Vale’s response came after its CFO, Luciano Siani, said earlier in July the company was “ready” to pay dividends again. Vale suspended dividends following the deadly Brumadinho dam collapse, which killed 270 people.

Separately on Friday, Vale said a judge annulled a court decision demanding the miner to pay BRL 7.9 billion ($1.4 billion) in guarantees to cover for eventual Brumadinho fines.

Different courts had ordered Vale to make the cash payment to cover for Brumadinho guarantees, but Vale managed to annul the decision twice, including today’s decision.

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