Brazil's Vale suspends dividends, bonuses after dam disaster

Published: January 28, 2019 11:18:02 | Updated: January 30, 2019 12:33:30

Reuters photo

Vale SA, the world’s largest iron ore miner, suspended its planned shareholder dividends, share buybacks, and executive bonuses in light of a deadly tailings dam disaster in Brazil, according to a securities filing late on Sunday, reports Reuters.

Vale’s board of directors also created independent committees to investigate the causes of the Friday dam burst in the state of Minas Gerais and monitor relief efforts in the devastated town of Brumadinho and surrounding area.