RIO DE JANEIRO, Brazil, Oct. 16 /CNW/ -- Companhia Vale do Rio Doce
(Vale) announces that the Board of Directors has approved the payment of the
second tranche of its minimum dividend for 2008, amounting to US$ 1.25
billion, and an additional dividend of US$ 350 million, totaling US$ 1.6
billion, equal to US$ 0.303123240 per common or preferred share in
Given the first tranche of minimum dividend paid as from April 30, 2008,
Vale will pay out to its shareholders a total of US$ 2.85 billion this year.
Therefore, dividend distribution in 2008 increased by 55.53% relative to 2007.
The dividend distribution is consistent with our cash flow and complies
with the Brazilian corporate law and Vale's dividend policy.
The dividend payment will be made as follows:
1. Dates of payment -- As of Friday, October 31, 2008 in Brazil. As of
Friday, November 7, 2008 for ADR holders, who will be paid through JP Morgan
Chase Bank, N.A. depositary bank for Vale ADRs.
2. Conversion to Brazilian reais (R$) -- The amounts in Brazilian reais
(R$) calculated using the exchange rate for the sale of US dollars as
informed by the Central Bank of Brazil on October 15, 2008 (Ptax - option 5) -
- R$ 2.1551 per US dollar -- as per the procedures disclosed on January 21,
3. Total amount -- Distribution of R$ 3,448,160,000.00 equivalent to R$
0.653260895 per common or preferred share in circulation. Of this amount, R$
2,717,000,000.00, corresponding to R$ 0.514741153 (US$ 0.238847920) per common
or preferred share, will be paid in the form of interest on capital (JCP) and
R$ 731,160,000.00 in the form of dividends equivalent to R$ 0.138519743 (US$
0.064275320) per common or preferred share.
4. Taxation -- A withholding income tax will be levied on the amount
distributed as JCP, in accordance with prevailing tax code in Brazil.
5. Record dates -- All investors who hold Vale shares at the record dates
will have the right to the dividend payment. The record date for the owners of
shares traded on the BOVESPA is Thursday, October 16, 2008. The record date
for holders of ADRs traded on the New York Stock Exchange (NYSE) and Euronext
Paris is Thursday, October 23, 2008.
6. Ex-dividend trading -- Vale shares will be traded ex-dividend on the
stock exchanges: BOVESPA from Friday, October 17, NYSE and Euronext Paris from
Tuesday, October 21, 2008.
For further information:
For further information: Roberto Castello Branco,
firstname.lastname@example.org, or Alessandra Gadelha,
email@example.com, or Patricia Calazans, firstname.lastname@example.org,
or Theo Penedo, email@example.com, or Marcus Thieme,
firstname.lastname@example.org, or Tacio Neto, email@example.com , all of Vale,
+011-55-21-3814-4540 Web Site: http://www.vale.com