Vale Profit Misses Analyst Estimates, Plans Extra Dividend

Bloomberg reports Vale SA (SAO:VALE3,EPA:VALE3) posted second-quarter profit that missed analysts’ expectations and said it will pay an extra dividend of $3 billion.

The market news is quoted as saying,

Net income rose to $6.45 billion, or $1.22 a share, from $3.71 billion, or 70 cents, a year earlier, the Rio de Janeiro- based company said today in a regulatory filing. Vale was expected to post per-share profit of $1.39 on an adjusted basis, the average of 13 analyst estimates compiled by Bloomberg.

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