Vale Plans Payment of First Installment of Minimum Dividend
OREANDA-NEWS. April 5, 2011. Vale
The proposal will be submitted for approval to the Board of Directors in the meeting scheduled for April 13, 2011 and, if approved, the payment will be made on April 29, 2011. The holders of American Depositary Receipts (ADRs) and Hong Kong Depositary Receipts (HDRs) will receive the payment through JP Morgan, as the depositary agent, on May 6, 2011 and May 9, 2011, respectively.
The proposed gross amount of USD 2 billion is equal to USD 0.383268113 per common or preferred share outstanding. The amount in Brazilian reais will be calculated using the Brazilian real/US dollar exchange rate (Ptax-Option 5) published by the Central Bank of Brazil on April 12, 2011. The amount will be subject to appropriate adjustments for withholding tax if the distribution is classified for tax purposes as interest on shareholders’ equity. Other fees and/or charges may also be applicable.
If the proposal is approved by the Board, all investors who hold Vale shares at the record dates will have the right to the dividend payment. The record date for the owners of shares traded on the BM&FBovespa is April 13, 2011. The record date for the holders of ADRs traded on the New York Stock Exchange (NYSE) and Euronext Paris is April 18, 2011 Eastern Standard Time and for the holders of HDRs traded on the Hong Kong Stock Exchange (HKEx) is at the close of business in Hong Kong on April 20, 2011.
Vale shares will be traded ex-dividend on BM&FBovespa, NYSE and Euronext Paris as of April 14, 2011 and on HKEx as of April 19, 2011.
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