Vale suspends payments to shareholders and executives after disaster.
Vale SA has suspended the payment of dividends and interest on equity, the repurchase of shares of its own issue and the payment of variable remuneration to executives after the collapse of a mining dam in Brumadinho (MG) on Friday (25); so far, 58 bodies have been located, of which 19 have been identified; there are 305 missing and 192 rescued.
Reuters - Vale SA has suspended the payment of dividends and interest on equity, the repurchase of shares of its own issue, and the payment of variable compensation to executives, according to a company statement released on Sunday, following the collapse of a mining dam in Brumadinho (MG) on Friday.
Vale's Board of Directors also created two Independent Extraordinary Advisory Committees. One aims to monitor the measures taken to assist the victims and recover the area affected by the dam collapse in Brumadinho (MG).
The second phase will focus on determining the causes and assigning responsibility for the dam breach.