Brazil's Vale approves $1 bln dividend payment
BRASILIA, April 14 (Reuters) - Brazilian miner Vale SA said on Tuesday it approved payment of a dividend installment of 3.1 billion reais ($1.01 billion), easing investor concerns that it might slash the payment in the face of falling iron ore prices.
Vale and other major miners were put on credit watch negative by Standard & Poor's on Monday as the rating agency slashed its iron-ore price estimates for the next couple of years.
($1=3.0623 Brazilian reais) (Reporting by Alonso Soto; Editing by Peter Galloway)
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