Vale Strike by the numbers
Vale paid dividends to their shareholders to the tune of 3 Billion dollars last quarter. This works out to 12 billion dollars per year.
Let’s be conservative and assume that last quarter was a windfall and that typical dividend payments will be closer to 1.5 billion a quarter or 6 billion dollars per year.
A dividend payment is a payment a company issues to its shareholders based on profit. It is a percentage of the PROFIT the company makes.
There are around 800 institutional shareholders which make up a large majority of the total share ownership.
So that 6 billion means roughly 7.5million dollars for each one of those institutions.
If Vale took even 1 billion of that 6, so roughly 17 percent of the dividend payout ALONE, and divided it up between all 7000 of its Canadian employees, that would be around 143,000$ per year for each one of them. That’s how much money 1 BILLION dollars is.
So tell me why can’t the company afford to pay retirement benefits and health plans again?