October 16, 2018 / 10:43 PM / a month ago

Vale expects to devote EBITDA to dividends, acquisitions

SAO PAULO, Oct 16 (Reuters) - Brazilian iron ore miner Vale said on Tuesday that it plans to use its cash flow cautiously going forward, devoting about 30 percent of its earnings before interest, taxes, depreciation and amortization (EBITDA) to regular dividends.

Vale said in a securities filing that it plans to devote the remainder of its operating earnings to extraordinary dividends and “bolt on” acquisitions. (Reporting By Roberto Samora)

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