2/27/2018

Vale approves the payment of shareholder remuneration

Rio de Janeiro, February 27th, 2018 – Vale S.A. (Vale) informs that, at the Board of Directors meeting held today, it was approved the payment of shareholder remuneration in the form of interest on equity of R$ 2,539,006,733.78, equivalent to R$ 0.488511766 per outstanding common share, based on the number of outstanding common shares today (5,197,432,081). 

The payment of the remuneration will occur on March 15th, 2018 and shareholders will be entitled to remuneration, as follows: 

i. Record date for the owners of Vale shares traded on the B3 will be on March 06th, 2018 and for holders of American Depositary Receipts (ADRs) traded on the New York Stock Exchange (NYSE) and Euronext Paris will be on March 08th, 2018. 

ii. Vale's shares will start trading ex-dividends on the B3, NYSE and Euronext Paris as of March 07th, 2018. 

iii. The holders of ADRs will receive the payment through Citibank N.A., the depositary agent for the ADRs, as of March 22nd, 2018. 

iv. According to the Brazilian law, the distribution of interest on equity is subject to the deduction of withholding income tax, except for the exempt beneficiaries that prove meeting the legal conditions for the exemption. Any change in the shareholder register regarding tax residence and profile shall be done until March 09th, 2018, to ensure the accurate withholding tax related to the interest on equity announced today. 

The above-mentioned interest on equity will be considered as a component of the minimum remuneration established by Vale’s bylaws related to the period ended on December 31st, 2017. Including the remuneration announced on December 14th, 2017, Vale will pay the total amount of R$ 4,721,473,237.91 to its shareholders, equivalent to R$ 0.908424228 per outstanding common share, regarding the period ended on December 31st, 2017. 

The decision to pay the minimum required remuneration reflects a cautious and disciplined approach from Vale and is consistent with Vale’s primary focus to reduce its net debt to US$ 10 billion. A new dividend policy is currently being discussed with the Board of Directors and will be announced by the end of March 2018.

 

For further information, please contact:
+55-21-3814-4540

Rogério Nogueira: rogerio.nogueira@vale.com
André Figueiredo: andre.figueiredo@vale.com
Carla Albano Miller: carla.albano@vale.com
Fernando Mascarenhas: fernando.mascarenhas@vale.com
Andrea Gutman: andrea.gutman@vale.com
Bruno Siqueira: bruno.siqueira@vale.com
Claudia Rodrigues: claudia.rodrigues@vale.com
Marcio Loures Penna: marcio.penna@vale.com
Mariano Szachtman: mariano.szachtman@vale.com

This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.

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Vale approves the payment of shareholder remuneration