Dividend History

Dividend Policy

Brazilian Corporate Law and the Company’s bylaws require that Aliansce distributes annually to its shareholders a mandatory dividend, which is the mandatory distribution of a minimum percentage of the net income for the prior fiscal year, unless the board of directors recommends against such distribution due to considerations relating to the Company’s financial condition.

Aliansce’s bylaws require a minimum distribution equal to 25% of the net income, adjusted in accordance with Article 202 of the Brazilian Corporate Law. The mandatory dividends may be paid in the form of dividends or interest on shareholders’ equity, the value of which, net of income tax payable on that amount by the recipient, may be allocated to the mandatory distribution and deducted by the Company in calculating its income and social contribution taxes obligations.

Historical Dividend Payment

Payment Year Amount
(R$)
Amount per share (R$) Fiscal Year Net Income Payout Ratio Adjusted Net Income Payout Ratio
2015 113,153,996.54 0.70 2014 65.0% 68.4%
2014 30,492,340.09 0.19 2013 50.0% 52.6%
2013 55,000,000.00 0.35 2012 43.2% 45.4%
2012 25,354,404.47 0.18 2011 25.0% 26.3%
2011 12,959,121.16 0.09 2010 23.8% 25.0%
2010 7,189,588.96 0.08 2009 15.1% 25.0%
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