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Financial News: VALE: Debt Should Fall At Slower Pace In

VALE: Debt Should Fall At Slower Pace In 3Q18 Due To Dividend Payment

07/26/2018 - 16:44:00 (RTTNews)

(RTTNews) - Vale's net debt is expected to continue to decline, but at a slower pace in the third quarter of 2018, to once again see a larger decline in the fourth quarter, the company's board of directors said in a teleconference. The slowest decline in 3Q18 should be due to the payment of dividends announced by the company on Wednesday.

Vale's CEO Fabio Schvartsman said that the miner's goal is still to reach a debt of US$ 10 billion by the end of this year and that he will work to keep the debt in decline, but he did not want to reveal if the company will work with a new goal after this level is reached.

In the second quarter, Vale hit US$ 11.5 billion in debt, down 22.7 percent from the first quarter.

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