Summary by Moomoo AI
Vale S.A. reported a net income of $6.17 billion for the fiscal year 2024, marking a 22.8% decline from $7.98 billion in 2023. The company's total shareholder remuneration reached $3.59 billion in 2024, down from $6.11 billion in the previous year. The adjusted EBITDA-based shareholder remuneration amounted to $4.54 billion, representing 30% of adjusted EBITDA less sustaining capital.The company demonstrated its commitment to shareholder returns through various capital management initiatives. The Board approved $1.60 billion in dividends in February 2025, following a $1.61 billion interest on capital payment in September 2024. Additionally, Vale completed a share buyback of 30.9 million shares worth $409 million in 2024.Looking ahead, Vale has approved a new share buyback program for up to 120 million common shares in February 2025. The company maintains a strong shareholder structure with major stakeholders including Mitsui&Co and BlackRock, holding approximately 286.3 million and 289.1 million shares respectively. The company's free float stands at 3.30 billion shares, with 270.3 million shares held in treasury.
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