Vale will buy back up to 200 million shares
1 min read
a Valley (VALE3The approval of a new buy-back program for 200 million shares, or 4.1% of outstanding shares in the market, shows a related fact sent to the market on Thursday (28).
The new buyback comes in light of the imminent conclusion of the current program, which has received 268 million shares out of the 270 million shares repurchased so far.
The duration of the operation is 18 months.
Continuing the buyback program demonstrates company management’s confidence in Vale’s ability to consistently create and distribute value. He informed in the document, that, as governed by discipline in the allocation of capital, we consider the repurchase of our shares to be one of the best investments available to the company.”
Buyback programs usually occur when the company decides that the stock is cheap. In the year, Vale’s share decreased by 19.42%.
Moreover, with fewer shares outstanding, it is possible to increase the amounts of dividends per sheet of stock to the shareholders.
See the document:
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