Dividend Policy

It rests ensured a minimum dividend and/or interest on shareholder’s equity of 25% of the net profit (after legal reserves and contingencies) assessed in each period, provided there is positive balance in the accrued profit/loss account, unless otherwise expressly decided at the General Meeting for cases allowed by Corporate Law. Company´s bylaws also authorize (i) analysis of financial balance sheets for semi-annual, quarterly or smaller periods, in which dividends and/or interest on shareholder’s equity may be reported; or (ii) declare interim dividends or interest on own capital, to the account of accrued profits or profit reserves stated in the prior yearly balance sheet.

Dividends are approved annually as established in the General Meeting, which takes place on the first four months of corporate year. Company´s Bylaws also allow the distribution of interim and intermediate dividends and interest on shareholder’s equity, in which both may be allotted to the compulsory dividends. The declaration of interim and intermediate dividends and interest on shareholder’s equity is incumbent on the Board of Directors.

Dividend and IOE History
Fiscal Year Closure Entitlement Date of Approval Base Date Gross Value Unit Value
2019 February/2020 IOE Aug/27/2020 Sep/1/2020 R$15 million R$0.0405
2019 February/2020 IOE Jun/9/2020 Jun/12/2020 R$15 million R$0.0405
2019 Nov/2019 IOE Feb/20/2020 Mar/9/2020 R$15 million R$0.0405
2019 Aug/2019 IOE Dec/6/2019 Dec/1/2019 R$15 million R$0.0405
2018 Mai/2019 IOE Ago/23/2019 Sep/2/2019 R$15 million R$0.0374
2018 Fev/2019 Additional Dividends Jun/26/2019 Jun/26/2019 R$6 million R$0.0149
2018 Fev/2019 IOE Jun/26/2019 Jul/1/2019 R$15 million R$0.0373
2018 Nov/2018 IOE Mar/26/2019 Mar/29/2019 R$20 million R$0.0495
2018 Aug/2018 IOE Nov/22/2018 Nov/27/2018 R$45 million R$0.1113
2018 May/2018 IOE Aug/24/2018 Aug/29/2018 R$20 million R$0.0495
2017 Aug/2017 IOE Dec/12/2017 Dec/15/2017 R$65 million R$0.1585
2016 Feb/2017 Additional Dividends Jun/30/2017 n.a. R$107,8 million n.a.
2016 Feb/2017 Mandatory Dividends Jun/30/2017 n.a. R$48,9 million n.a.
2014 Feb/2015 Mandatory Dividends Jun/29/2015 n.a. R$25,9 million n.a.


Updated at 08/27/2020 at 08:56 pm