Brazil's Vale SA (VALE3.SA) will pay 40.2 billion real ($7.6 billion) in first-half dividends, its largest payout since the miner's 2019 dam collapse that killed almost 300 people.
The logo of the Brazilian mining company Vale SA is seen in Brumadinho, Brazil January 29, 2019. REUTERS/Adriano Machado/File Photo/File Photowill pay 40.2 billion real in first-half dividends, its largest payout since the miner's 2019 dam collapse that killed almost 300 people.
Although the dividend was above analysts' estimates, it was not enough to offset negative sentiment from a drop in iron ore prices in China that hit mining companies across the board. Vale shares were down 2.5% in early trading at 85.76 reais. In a note to clients, XP analysts said the payout was above expectations and meant a 9.2% dividend yield. XP estimates that Vale will pay $13.8 billion in dividends relative to 2021 earnings and rated the stock as buy.
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