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Vale SA | 6-K: Financial Statements

SEC announcement ·  Feb 23 15:51
Summary by Moomoo AI
Vale S.A., a leading global mining company, has announced several key financial and operational events for the year ending December 31, 2023. The company's share capital remained at R$77.300 billion, corresponding to 4,539,007,580 shares issued. The Board of Directors approved various share buyback programs and the cancellation of treasury shares, resulting in the cancellation of 239,881,683 shares at a carrying amount of R$21.397 billion. Vale also declared shareholder remuneration, including dividends and interest on capital, amounting to R$30.032 billion for the year. The company's net debt stood at R$46.279 billion, a slight increase from the previous year's R$41.299 billion. Vale reported a net income of R$39.940 billion for the year, with a legal reserve cap reached in 2022. The company continued...Show More
Vale S.A., a leading global mining company, has announced several key financial and operational events for the year ending December 31, 2023. The company's share capital remained at R$77.300 billion, corresponding to 4,539,007,580 shares issued. The Board of Directors approved various share buyback programs and the cancellation of treasury shares, resulting in the cancellation of 239,881,683 shares at a carrying amount of R$21.397 billion. Vale also declared shareholder remuneration, including dividends and interest on capital, amounting to R$30.032 billion for the year. The company's net debt stood at R$46.279 billion, a slight increase from the previous year's R$41.299 billion. Vale reported a net income of R$39.940 billion for the year, with a legal reserve cap reached in 2022. The company continued to manage its financial and capital risks, including market risks related to foreign exchange and interest rates, credit risk, and liquidity risk, using various derivative financial instruments and maintaining revolving credit facilities. Vale also recognized provisions for obligations related to the Brumadinho dam failure and the Samarco dam failure, with an additional provision of R$5.841 billion recorded for the latter. The company's commitments for the purchase of raw materials and services totaled R$37.164 billion, and it provided financial guarantees amounting to R$5.733 billion for associates, joint ventures, and asset retirement obligations.
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