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Financial News: VALE: Dividends In 2018 Could Surpass US$ 4

VALE: Dividends In 2018 Could Surpass US$ 4 Billion, Analysts Say

05/02/2018 - 15:53:00 (RTTNews)

(RTTNews) - After releasing its first-quarter earnings results last week, the Brazilian miner Vale said that it could pay at least US$ 1 billion in dividends this year. That number, however, could jump to more than US$ 4 billion if the company manages to keep a steady performance on the next quarters, according to analysts.

That figure could put Vale back on the group of companies with a significant return to shareholders, together with firms that traditionally pay large dividends, like those in the power and telecommunications sectors.

"The 2018 dividend should be robust. The US$ 1 billion payment foreseen in September means a 2.5% yield, which is considerable," said Sabrina Cassiano, an investment analyst at Coinvalores brokerage, to CMA news agency.

Analysts Carlos Sequeira and Bernardo Teixeira, from BTG Pactual, say that Vale's dividend yield could rise rapidly to more than 4% this year and 7.4% in 2019. They expect that in 2018 the three Brazilian stocks with the largest yields will be TRPL4 (19.8%), TIET11 (12.2%) and CSMG3 (10.4%).

"As the Brazilian interest rate reaches the lowest historical level [6.5% currently], a number of shares could pay larger yields than fixed income instruments," said Sequeira and Teixeira in a report.

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