Vale goes from loss to profit in Q2, resumes dividends

Friday, 31 July 2020 23:49:55 (GMT+3)   |   Sao Paulo
       

Brazilian miner and iron ore producer Vale went from a net loss of $133 million in Q2 2019 to post a net profit of $995 million in Q2 this year, the company said this week. Net revenues in Q2 declined 18.1 percent, year-on-year, to $7.5 billion.

Adjusted EBITDA in Q2 rose 8.8 percent, year-on-year, to $3.3 billion. Adjusted EBITDA margin in Q2 this year improved to 45 percent, from 34 percent in Q2 2019.

Additionally, Vale said it will resume dividends. The comment came just a few days after the company said it was yet to decide on the matter, as reported by SteelOrbis. Vale said it will pay its first dividend in September this year, following an 18-month halt. Vale will pay investors twice a year, as it did in the past: in March and September. Vale suspended dividends in January 2019, following the Brumadinho disaster, which killed 270 people.


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