Vale Boosts Investor Payouts on Strong Output, Iron Ore Prices

Brazilian iron ore heavyweight Vale SA will pay a special dividend to shareholders on the back of its strong operational performance and high prices of the steelmaking ingredient this year.

The board approved additional payouts of 3.58 reais per share to be paid in January and March, according to a filing on Thursday. At 15.3 billion reais ($2.9 billion), the total sum will be roughly similar to the company’s net income for the third quarter.