Dividend Policy and History

Dividend Policy

The Brazilian Corporate Law and the Company’s Bylaws require that an annual general shareholders’ meeting is held until April 30 every year, in which shareholders must resolve, among other matters, on the distribution of annual dividends. All shareholders are entitled to receive dividends on the date of declaration of dividends.

The Company’s shareholders will resolve on the Board of Directors’ proposal with respect to the allocation of the net income of the previous fiscal year. According to the Corporation Law, the net income is defined as the result of the fiscal year less accumulated losses from previous fiscal years, amounts related to income tax and social contribution and any other values designed to pay statutory profit sharing of employees and management.

Brasil Brokers’ mandatory dividend is, at least, 25% of the adjusted net income, pursuant to the Corporations Law and the Bylaws, recorded in the unconsolidated financial statements. The annual declaration of dividends, including the payment of dividends in addition to the minimum required dividend, shall be approved by the Annual General Meeting by majority vote of the shareholders holding Brasil Brokers’ shares and will depend on several factors. Among these factors are the operational results, financial condition, cash needs and future prospects, among other factors that the board of directors and shareholders of Brasil Brokers deem relevant.

Dividend Payment History

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