Industry News

Vale resumes dividends 18 months after deadly dam disaster, Q2 profit soars

Views : 212
Update time : 2020-07-30 16:45:44

Brazilian mining giant Vale said on Wednesday it will resume dividend payments to shareholders, suspended since a deadly dam burst in January 2019, as it reported second-quarter profit rocketed amid a surge in iron-ore prices.

Disclosing the resumption in a securities filing, Vale said the decision came following the reduction of business uncertainties related to the novel coronavirus pandemic. "The worst is likely behind us," Vale said in a statement.

The dividend news, released after the close of share trading in Sao Paulo, was awaited by investors and analysts and may stoke market interest in the shares. But it may also bring fresh scrutiny from critics and victims' groups who blame the firm for the Brumadinho dam failure, which killed 270 people.

Related News
Read More >>
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Mar .12.2025
The main theme of domestic favourable macro front remains unchanged, SHFE aluminium prices showed a ‘v-shaped’ rebound today
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Mar .12.2025
Uzbekistan’s aluminium cans manufacturing unit to reduce dependency on imported aluminium packaging
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they? Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
Mar .12.2025
Two contrast sequences set to boost China’s aluminium smelters’ profitability, offsetting tariff losses. What are they?
International crude oil prices increase on Mar 11 International crude oil prices increase on Mar 11
Mar .12.2025
International crude oil prices increase on Mar 11