Dividends and interest on capital

Dividends Analyze

Brazilian corporate law and our by-laws require that we annually distribute to our shareholders a mandatory distribution equal to 25% of our net income for the prior year (calculated under Brazilian GAAP), which may be adjusted in certain circumstances as permitted by Brazilian corporate law. See “Description of Our Capital Stock—Dividend Policy”. The mandatory distribution may be made in the form of dividends or interest attributable to shareholders’ equity. Interest attributable to shareholders’ equity may be deducted by us as an expense in calculating our income and social contribution tax obligations. We may pay or credit interest rates as own capital remuneration calculated on the shareholders’ equity accounts, observing the rate and limits set forth in the relevant fiscal legislation. The amount paid to shareholders as interest on own capital is deducted from the mandatory distribution amount. Dividends or interest attributable to shareholders’ equity are declared at the annual shareholders’ meeting, which is required by Brazilian corporate law and our by-laws to be held by April 30 of each year. When we declare dividends or interest attributable to shareholders’ equity, we are generally required to pay them within 60 days of declaring them unless the shareholders’ resolution establishes another payment date.

In any event, if we declare dividends or interest attributable to shareholders’ equity, we must pay them by the end of the fiscal year in which they are declared. Our by-laws also provide that, subject to the approval of our shareholders at a general meeting, our board of directors have the discretion to credit the interest amount that may be distributed and paid to shareholders or, alternatively, credited to shareholders and subsequently incorporated into our capital stock instead of being distributed and paid. The following table sets forth the distributions paid to the holders of our common shares in the form of dividends or interest attributable to shareholders’ equity.

The following table shows the dividends and interest on the capital stock of the shareholders holding the Company’s common shares:

Fiscal Year Meeting Date Share Holding Position Data Ex Payment Date Amount per Share (R$) Total Amount Paid (R$)
2018 9/21/18 9/27/18 9/28/18 11/16/18 0.067377 44,596,284.49
6/21/18 6/28/18 6/29/18 8/16/18 0.064955 42,991,680.98
3/22/18 3/28/18 3/29/18 5/16/18 0.063557 41,980,594.35
2017 12/7/17 12/14/17 12/15/17 1/31/18 0.064746 42,744,798.52
9/13/17 9/22/17 12/25/17 11/7/17 0.062161 41,035,890.51
6/30/17 7/6/17 7/7/17 8/24/17 0.059539 39,231,433.77
3/8/17 3/15/17 3/16/17 5/2/17 0.060829 39,890,559.23
2016 12/15/16 12/22/16 12/23/16 2/8/17 0.224468 46,708,251.78
9/29/16 9/30/16 10/3/16 11/23/16 0.158655 33,043,717.48
6/23/16 6/30/16 7/1/16 8/17/16 0.176597 36,780,576.71
4/29/16 4/29/16 5/2/16 5/20/16 0.005004 1,042,128.17
3/17/16 3/31/16 4/1/16 5/12/16 0.170149 35,423,287.96
2015 12/10/15 12/30/15 1/4/16 1/28/16 0.159480 33,196,968.76
9/30/15 9/30/15 10/1/15 11/19/15 0.141816 29,519,477.63
6/25/15 6/30/15 7/1/15 8/20/15 0.123396 25,782,848.30
4/28/15 4/30/15 5/4/15 5/21/15 0.214031 44,659,835.51
3/19/15 3/31/15 4/1/15 5/14/15 0.107094 22,308,190.89
2014 12/11/14 12/30/14 1/2/15 1/30/15 0.081568 16,990,522.40
9/25/14 9/30/14 10/1/14 11/19/14 0.076619 15,959,465.82
6/30/14 7/1/14 7/2/14 8/28/14 0.072000 14,997,070.92
4/29/14 4/30/14 5/2/14 5/16/14 0.185377 38,611,627.01
3/19/14 3/31/14 4/1/14 5/14/14 0.066900 13,933,563.25
2013 12/18/13 12/30/13 1/2/14 2/10/14 0.080766 16,802,241.69
10/24/13 10/31/13 11/1/13 11/13/13 1.201998 250,000,000.00
9/30/13 9/30/13 10/1/13 11/14/13 0.069968 14,552,409.87
6/20/13 6/28/13 7/1/13 8/14/13 0.074410 15,468,022.65
3/8/13 3/20/13 3/21/13 5/3/13 0.073363 14,567,095.27
2012 4/29/13 4/29/13 4/30/13 6/18/13 0.025886 5,143,197.34
12/18/12 12/28/12 1/2/13 2/8/13 0.079835 15,851,361.49
9/20/12 9/28/12 10/1/12 11/14/12 0.075341 14,955,749.64
6/21/12 6/29/12 7/2/12 8/17/12 0.077831 15,436,866.56
3/7/12 3/15/12 3/16/12 5/3/12 0.072981 14,417,139.06
2011 4/13/12 4/30/12 5/2/12 6/6/12 0.132664 26,303,424.17
12/15/11 12/29/11 1/2/12 2/10/12 0.071221 14,067,931.00
9/22/11 9/30/11 10/3/11 11/18/11 0.065844 13,005,900.00
6/30/11 7/1/11 7/2/11 8/25/11 0.061369 12,119,300.00
3/24/11 3/31/11 4/1/11 5/19/11 0.057472 11,349,700.00
2010 4/25/11 4/29/11 5/2/11 6/22/11 0.118174 23,337,168.98
12/22/10 12/30/10 1/3/11 2/18/11 0.043239 8,539,000.00
11/25/10 12/30/10 1/3/11 1/21/11 0.057185 11,293,063.89
9/23/10 9/30/10 10/1/10 11/18/10 0.052102 10,289,200.00
6/24/10 6/30/10 7/1/10 8/20/10 0.048450 9,568,000.00
3/25/10 3/31/10 4/1/10 5/21/10 0.045225 8,931,105.54
2009 4/29/10 4/30/10 5/1/10 6/25/10 0.030951 6,112,215.47
4/29/10 4/30/10 5/1/10 6/25/10 0.030951 25,270,854.74
9/15/09 9/30/09 10/1/09 11/12/09 0.043327 8,556,353.80
6/29/09 6/30/09 7/1/09 8/26/09 0.043094 8,510,200.94
2008 3/12/09 4/22/09 4/23/09 4/23/09 0.028271 5,582,989.38
3/12/09 3/31/09 4/1/09 5/7/09 0.041545 8,204,300.00
12/15/08 12/17/08 12/18/08 2/12/09 0.044324 8,753,137.99
9/30/08 10/2/08 10/3/08 11/28/08 0.041557 8,304,122.74
6/30/08 7/2/08 7/3/08 8/29/08 0.036017 7,202,500.06
3/25/08 3/27/08 3/28/08 4/25/08 0.036722 7,343,291.00
2007 4/8/08 4/10/08 4/11/08 6/3/08 0.123517 24,699,618.20
12/18/07 12/19/07 12/20/07 2/1/08 0.036967 7,456,539.64
9/27/07 9/28/07 10/1/07 10/26/07 0.033658 6,789,087.86
6/27/07 6/29/07 7/2/07 8/3/07 0.032774 6,610,777.99
3/28/07 3/29/07 3/30/07 5/3/07 0.088406 5,944,065.81
2006 4/10/07 4/11/07 4/12/07 4/20/07 1.775936 119,406,832.76
4/10/07 4/11/07 4/12/07 4/20/07 1.149064 77,258,467.24
12/26/06 12/28/06 1/2/07 1/23/07 0.136141 9,153,576.28
9/29/06 10/2/06 10/3/06 11/16/06 0.142179 9,559,120.71
7/11/06 7/12/06 7/13/06 8/18/06 0.035100 2,359,878.30
6/29/06 6/30/06 7/3/06 8/18/06 0.100080 6,728,678.64
3/30/06 3/31/06 4/1/06 5/31/06 0.117378 7,430,000.00
2005 1/31/06 2/24/06 2/27/06 3/8/06 0.089620 5,595,941.00
12/23/05 12/29/05 1/1/06 3/8/06 0.198840 12,587,000.00
6/27/05 6/30/05 7/1/05 7/14/05 0.192443 12,016,000.00

Last update: 10/31/2018