Vale SA (ADR) (NYSE:VALE) To Pay Dividend To Its Shareholders

by Jack Bibey | Thursday, Apr 3, 2014 | 2338 views

Boston, MA, 04/03/2014  (usastockreports) – Vale SA (ADR) (NYSE:VALE), a Brazil based multinational corporation for mining and metals made an announcement on March 28, 2014 that the Exec Board of the firm has approved the proposal of payment of dividend to its shareholders. The approval will soon be submitted to the firm’s directorial board and then will be brought in act.

The proposal was announced by the firm on January 30, 2014, which says that the payment of first installment will be done to the shareholders with the dividend being worth $2.1 million. This payment will be consider each common stock or any other preferred share to be worth $0.407 as recorded from February 28, 2014.

The submission of the proposal to the Directorial Board of Vale SA (ADR) (NYSE:VALE) for their approval has been scheduled to be on April 14, 2014.  And, in case the board approves of the proposal, the payment worth $2.1 million will be done to the shareholders of VALE on April 30, 2014. The currency conversion from Brazilian real to U.S. dollar will be done using the conversion rate which would be published by the Brazilian Central bank on April 11, 2014.

Proposal details

As soon as the directorial board approves the proposal, all the shareholders of VALE till the recorded date would be eligible of receiving dividend payments from the firm as per the proposal. The recorded date for different shareholders is different. For the BM&F Bovespa SA (BVMF:BVMF3), the date is April 14, 2014 and that for ADRs who traded on Euronext Paris and NYSE as well as for HDRs who traded on HKEx (Hong Kong stock exchange ) it is April 17, 2014.

 The shares of Vale SA (ADR) (NYSE:VALE) would be traded ex dividend on NYSE, BM&F Bovespa SA and Euronext Paris from April 15, 2014 and on HKEx from April 16, 2014.

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