March 28, 2018 / 1:11 PM / 8 months ago

Brazilian miner Vale to discuss new dividend policy: Valor

The logo of Brazilian mining company Vale S.A.'s is seen in the main entrance of B3 before the ceremony of company's inclusion in Brazil's listing market segment called Novo Mercado at B3 in Sao Paulo, Brazil December 22, 2017. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - Board members of Brazilian miner Vale SA will discuss in a meeting on Thursday a new dividend policy, according to a Wednesday report by newspaper Valor Econômico.

Under the new policy, Vale would calculate dividend payouts based on its earnings before interest, tax, depreciation and amortization, a gauge of operating profitability known as EBITDA, Valor said, citing sources close to the discussions.

That would allow the miner to pay between 30 percent and 50 percent of its net income, according to the report.

A press representative for Vale declined to comment immediately on the matter.

Reporting by Alexandra Alper; Editing by Bill Trott

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