Vale S.A. (NYSE:VALE) to Issue $0.23 Special Dividend

by · The Markets Daily

Vale S.A. (NYSE:VALE – Get Free Report) declared a special dividend on Friday, November 28th. Investors of record on Friday, December 12th will be given a dividend of 0.2331 per share by the basic materials company on Wednesday, January 14th. The ex-dividend date is Friday, December 12th.

Vale has increased its dividend payment by an average of 0.3%annually over the last three years. Vale has a payout ratio of 44.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Vale to earn $2.11 per share next year, which means the company should continue to be able to cover its $0.79 annual dividend with an expected future payout ratio of 37.4%.

Vale Stock Performance

Shares of Vale stock opened at $13.02 on Wednesday. The company’s 50 day moving average price is $11.91 and its two-hundred day moving average price is $10.67. The firm has a market capitalization of $59.11 billion, a P/E ratio of 10.03 and a beta of 0.57. Vale has a fifty-two week low of $8.06 and a fifty-two week high of $13.62. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.24 and a quick ratio of 0.82.

Vale (NYSE:VALE – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.14. Vale had a return on equity of 18.60% and a net margin of 14.69%.The company had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.39 billion. On average, equities analysts forecast that Vale will post 1.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vale

Several institutional investors have recently modified their holdings of the business. Banque Transatlantique SA bought a new position in Vale in the 1st quarter valued at $30,000. Cary Street Partners Investment Advisory LLC increased its holdings in Vale by 60.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,748 shares of the basic materials company’s stock worth $30,000 after buying an additional 1,030 shares during the last quarter. CENTRAL TRUST Co bought a new stake in Vale in the second quarter worth about $34,000. Triumph Capital Management purchased a new position in Vale in the third quarter valued at approximately $34,000. Finally, GAMMA Investing LLC grew its holdings in Vale by 98.4% during the second quarter. GAMMA Investing LLC now owns 4,075 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 2,021 shares during the period. 21.85% of the stock is owned by institutional investors.

Vale Company Profile

(Get Free Report)

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Iron Solutions and Energy Transition Materials segments. The Iron Solutions segment produces and extracts iron ore and pellets, manganese, and other ferrous products; and provides related logistic services.

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