Image of a woman in an industrial setting, wearing a white hard hat with the Vale logo, large earmuffs, an orange safety vest with reflective stripes, and black gloves. She is holding a walkie-talkie close to her mouth.
Photographer: Felipe Borges

Image of two individuals in an industrial or construction setting. They are standing side by side with arms crossed, wearing safety helmets and orange vests with reflective stripes. The background suggests an operational area.
Photographer: Jeferson Capela

Learn more about the issued and outstanding Debt Securities.

In the table below, you can also find the corporate credit risk rating – in foreign currency and local currency – and data on net debt, allowing an analysis of the investment in these fixed income securities.

Learn more about the issued and outstanding Debt Securities


Participating debentures are securities issued by Vale that pay, in accordance with the terms established therein, semiannual premiums to investors.

Unlike shares, debentures do not represent units of the company’s share capital. Here you can access information on the issuance, payment and secondary trading of participating debentures.

Imagem placeholder Imagem placeholder Foto:

Onda

icon illustration of personal

In April 1997, Vale issued and distributed to its shareholders 388,559,056 non-convertible participating debentures, in the proportion of one debenture per common or preferred share. As of October 28, 2002, these securities began to be traded on the secondary market, through the National Debenture System (SND), managed and operated by CETIP S.A. – Organized Assets and Derivatives Counter.

To find out whether the investor is the holder of participating debentures issued by Vale, it is necessary to look for a branch of Banco Bradesco S.A., with ID, CPF, proof of residence and bank domicile.

Image of two individuals in an industrial or construction setting. They are standing side by side with arms crossed, wearing safety helmets and orange vests with reflective stripes. The background suggests an operational area.

Fotógrafo: xxxx

notebook icon

Consult the secondary trading prices of the CVRDA6 participating debentures

Photo of a man walking down iron stairs. He is wearing Vale uniform, green button-down shirt, pants, boots, ear protection, a helmet, gloves, a mask and goggles. Photo of a man walking down iron stairs. He is wearing Vale uniform, green button-down shirt, pants, boots, ear protection, a helmet, gloves, a mask and goggles.

Fotógrafo: Ricardo Teles

Bradesco Branches (responsible for verification

Submit a copy of your ID Card (RG) or Individual Taxpayer ID (CPF), proof of residence and banking information (bank, account number and branch number) to verify your position and, if necessary, update your registration. In the case of Legal Entities, it is necessary to bring the Articles of Incorporation/Organization and power of attorney for representation. For questions about the operational procedures in the branch network, Banco Bradesco S.A. provides its employees with regulation 05.662 with guidelines on procedures.

Investor Guidance Channel

Non-convertible debentures

Follow information on the issuance of non-convertible debentures carried out by Vale.

A person with long, straight hair is speaking into a walkie-talkie, which they hold close to their mouth with one hand. They are dressed in a light green shirt and wear a lanyard around their neck, adorned with several colorful badges. The individual appears to be in a professional or operational setting, possibly coordinating an activity or event. The background includes indistinct shapes and colors, suggesting an indoor environment with other people and structures.

Fotógrafo: Alexandre Rezende / Nitro


See below the history with information on the payments of dividends and interest on equity made since 1999.

History on the Payments of Dividends and Interest on Equity

Reference Fiscal Year Release Date Installment Payment Date Dividends Type Total

                            

2023

                            

02/22/2024

                                                          

#2 installment 

                            

03/19/2024

R$ per share
 

2.738548374

                            

Dividends

R$ / US$ million

R$  11,722
2023

0.056336128

Dividends

IOC

#1 installment

​#2 installment​

10/31/2014
10/31/2014

2011

10/14/2011

#2 installment

10/31/2011

0.048

0.027

Dividends

2011

10/14/2011

Additional

10/31/2011

0.341

0.195

Dividends

2.885

1.735

2024

09/04/2024 

JCP

US$ 8,940
Reference Fiscal Year Release Date Installment Payment Date Dividends          Type Total    

             
              

2025

             
           
  

11/27/2025

               
               
               
          

#2 installment

             
              

03/04/2026

               
            

IOC

R$ / US$ million

R$  6,701

2023

* excluding dividend fee rate

Reference Fiscal Year ReleaseDate Installment Payment Date Dividends Type Total

US$ per share

2010

04/14/2010

#1 installment

04/30/2010

US$ 3,000

2010

10/14/2010

#2 installment

10/29/2010

0.396

IOC

2010

Additional

10/29/2010

0.158

US$ 3,000

Total

0.975

2009

04/16/2009

#1 installment

0.524

dividends

US$ 2,750

2009

10/15/2009

#2 installment

IOC

US$ 2,750

2009

10/15/2009

10/31/2009

0.090

0.050

US$ 2,750

Total

1.014

0.528

2008

04/10/2008

#1 installment

IOC

2008

04/10/2008

#1 installment

04/30/2008

0.199

0.118

dividends

2008

10/16/2008

#2 installment

10/31/2008

IOC

US$ 2,850

2008

10/16/2008

#2 installment

0.050

dividends

US$ 2,850

2008

10/16/2008

Additional

10/31/2008

0.113

0.052

IOC

US$ 2,850

2008

10/16/2008

Additional

10/31/2008

US$ 2,850

Total

1.090

0.562

2007

04/16/2007

#1 installment

04/30/2007

0.257

0.127

IOC

US$ 1,875

2007

04/16/2007

#1 installment

0.433

0.214

dividends

US$ 1,875

2007

18/10/2007

#2 installment

10/31/2007

0.170

IOC

2007

18/10/2007

#2 installment

10/31/2007

US$ 1,875

2007

Additional

10/31/2007

0.072

2007

Additional

10/31/2007

0.006

US$ 1,875

Total

0.740

0.388

2006

04/12/2006

#1 installment

04/28/2006

0.666

0.311

2006

04/12/2006

#1 installment

04/28/2006

0.479

US$ 1,300

2006

#2 installment

10/31/2006

0.559

0.262

US$ 1,300

2006

10/19/2006

#2 installment

10/31/2006

dividends

US$ 1,300

Total

0.536

2005

#1 installment

0.44

US$ 1,300

2005

10/14/2005

#2 installment

10/31/2005

2005

10/14/2005

#2 installment

10/31/2005

0.30

dividends

US$ 1,300

2005

10/14/2005

Additional

10/31/2005

0.59

0.26

dividends

US$ 1,300

Total

2004

#1 installment

04/30/2004

2.06

0.715

IOC

US$ 787

2004

10/13/2004

0.67

0.24

US$ 787

2004

10/13/2004

Additional

10/29/2004

0.36

US$ 787

2004

10/13/2004

Additional

10/29/2004

0.24

dividends

Total

1.96

0.69

2003

04/16/2003

04/30/2003

1.62

0.52

US$ 675

2003

08/27/2003

Additional

10/31/2003

0.65

US$ 675

2003

10/15/2003

#2 installment

1.48

US$ 675

Total

1.69

2002

11/13/2002

12/10/2002

2.68

IOC

US$ 602

Total

0.84

2001

11/22/2001

12/10/2001

2.31

​US$ 1,066

2001

11/22/2001

04/30/2002

2.31

0.98

​US$ 1,066

Total

4.61

2000

12/30/2000

3.33

1.70

IOC

US$ 246

Total

1.70

1999

08/04/1999

08/20/1999

1.11

​ IOC

US$ 452

1999

03/31/2000

IOC

US$ 452

Total

1.28

Additional information on the secondary trading of the debentures, as well as copies of the Prospectus for the Public Trading of Participating Debentures, can be obtained on our website, through GDC Partners Serviços Fiduciários DTVM Ltda., the debentures’ fiduciary agent, or from the Brazilian Securities and Exchange Commission (CVM).

Banco Bradesco S.A., the custodian bank for Vale’s shares, sends the shareholder’s statement of shareholding position to the shareholder’s address, when there is a change in the share position, when dividends / interest on equity are paid and for income tax purposes. Therefore, it is essential that the shareholder keep their address updated in the custodian’s records. Also, at any time, shareholders can go to a Bradesco bank branch and request a certificate of their shareholding position in Vale. Shareholders whose custody is carried out by the CBLC – Companhia Brasileira de Liquidação e Custódia – should consult their position in this institution with the brokerage firm through which the investments were made.

The change of registration data can be carried out at any branch of Banco Bradesco. In order to do so, the shareholder must present certified copies of their ID Card (RG), Individual Taxpayer ID (CPF) and proof of residence. Shareholders whose custody is carried out by the CBLC – Companhia Brasileira de Liquidação e Custódia – should contact the brokerage firm through which the investments were made.

The person must look for any branch of Banco Bradesco (cost given Vale’s shares) and inform their full name and Individual Taxpayer ID (CPF) so that a consultation can be made in the records of Vale’s shareholding position.

No, Vale is not a financial institution and, therefore, it does not trade shares and debentures with its investors. To trade any asset or debt security issued by Vale, investors must directly contact a brokerage firm.

In March 2002, the third and final stage of Vale’s privatization program was carried out, through the global sale of common shares held by the Federal Government and BNDES – National Bank for Economic and Social Development. On this occasion, the Federal Government allowed retail investors to take part in this stage of Vale’s privatization using their deposits from the Severance Pay Indemnity Fund (FGTS) to purchase shares offered through the Mutual Privatization Funds – FMPs. The investors who made investments through FMPs acquired shares in an investment fund and not shares in Vale. The portfolios of Vale’s FGTS FMPs, managed by several banks, are composed of various assets, mainly Vale’s shares.

Information and certificates of investments in FGTS FMPs must be requested from the banks where such investments were made. Vale does not have access to the position of the quotaholders of each of the FGTS FMPs.

People who used their FGTS deposits acquired shares in FGTS FMPs. The holders of Vale’s shares are the FGTS FMPs. Dividends / interest on equity are paid by the company to its shareholders, in this case the FGTS FMPs. The credit of dividends / interest on equity will be reflected in the value of the shares of the FGTS FMPs.

The holder share certificates must be delivered to any branch of Banco Bradesco so that the shares can be updated and converted into registered and book-entry form. At Banco Bradesco, the shareholder must fill out form 1055-3 (provided by the bank itself), attach the originals of the certificates and keep a copy of this form as the protocol. After updating, the shareholder will receive, at the provided address, a “statement” informing their new shareholding position and the amount of dividends/JCP to which they are entitled. This amount will be deposited in the checking account of any bank in the country, as directed by the shareholder.

Participating debentures represent credit securities issued by the Company in favor of debenture holders, who are entitled to receive a premium paid semiannually, under the terms of their deed, not to be confused with shares, as the latter represent units of the capital stock of a company.

In the context of Vale’s privatization process, attempting to guarantee pre-privatization shareholders the right to a stake in any future benefits from the mining deposits of Vale and its subsidiaries, the 6th Issue of Debentures (“Participating Debentures”) was carried out.

On the date of the Extraordinary General Meeting, held on April 18, 1997, Vale’s shareholders were entitled to receive the non-convertible participating debentures, in the proportion of one debenture for each share.

The debenture holder’s registration data is used, for instance, for the premium payment on Vale’s participating debentures. Inconsistent or outdated data prevent the custodian bank from paying.

In accordance with the law, the amounts that have been made available to the debenture holder for more than three (03) years shall revert in favor of the Company. Thus, as of the date of the registration update, the debenture holder will only be entitled to receive premiums referring to the three previous years.

No. The hiring of financial advisory services for this purpose is not mandatory, and the registration update must be requested directly by the debenture holder to Banco Bradesco, the Company’s bookkeeping agent, which will inform the procedure to be followed for the update. In general, to request the regularization of registration data, the debenture holder must look for a branch of Banco Bradesco S.A., the bookkeeping agent for Vale’s participating debentures, with personal identification documents (RG, CPF and Proof of Residence), as well as a proof of bank domicile. Further guidance can be obtained by calling 0800-701-1616 (Investor Guidance Channel). Alternatively, investors can also contact Vale’s Investor Relations department via e-mail at vale.ri@vale.com. There is no charge by Bradesco or Vale for providing information on Participating Debentures or for updating the registration.

The Investor Relations Department can be contacted via email vale.ri@vale.com or telephone +55 21 3485-3900.

EBIT (Earnings Before Interest and Taxes) is Vale’s main operating profit measure. This represents operating profit, that is, it is calculated as profit after operating costs and expenses. Through EBIT, Vale can assess purely operational performance, that is, without the impacts of its financial structure, non-operating items and other tax-related items.

Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) is Vale’s main measure of cash generation. This is calculated by adding adjusted EBIT to depreciation, amortization and depletion, non-recurring items (such as asset write-offs) and dividends received from unconsolidated subsidiaries. Asset write-off is not part of the calculation as it represents non-cash expenses. Dividends received from non-consolidated subsidiaries are also included in the EBITDA calculation as they represent cash owned by Vale.

The record date is the day on which all shareholders holding Vale shares (common or preferred) at the close of trading will be entitled to receive interest on equity or dividends.

No. Only the shareholders who held Vale shares on the record date established for the second installment of the payment are entitled to receive the remuneration.

Investors should look for a branch of Banco Bradesco, the custodian bank for Vale’s shares. Shareholders whose custody is carried out by the CBLC – Companhia Brasileira de Liquidação e Custódia – should contact the brokerage firm through which the investments were made.

The debenture holder’s registration data are used, for instance, for the premium payment on Vale’s participating debentures. Inconsistent or outdated data prevent the custodian bank from paying.