Vale says no decision made on resuming dividends

Image courtesy of PT Vale Indonesia.

Brazilian mining giant Vale (NYSE: VALE) said it has yet to make any decisions on resuming dividend payments, according to a filing on Thursday.

Earlier this month, Chief Financial Officer Luciano Siani had told investors the company was ready to pay dividends again, but did not specify when that would occur.

Vale suspended dividend payments after the 2019 collapse of its dam in the town of Brumadinho, which killed 270 people.

This week, a Brazilian court ruled that Vale must present 7.9 billion reais ($1.47 billion) in guarantees by July 23 related to disaster.

This amount would ensure the enforcement of any potential fine or forfeiture of assets, rights and values related to the disaster, the company said in a filing, adding that it will appeal the decision.

(By Carolina Mandl; Editing by Christian Plumb)

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