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The Brazilian Corporation Law and T4F‘s Bylaws require the shareholders‘ ordinary general meeting to be held up to April 30 of each year where the shareholders must, among other things, decide about the distribution of the annual dividends. All shareholders are entitled to receive the dividends on the date when the dividends were declared.
Article 31 of T4F’s Bylaws determines that shareholders are entitled to receive mandatory dividends of at least 25% (twenty-five percent) of each year’s net income, subject to the following adjustments: i) deduction of the amounts allocated to the establishment of a Legal Reserve and Reserves for Contingencies, if any; and ii) the addition of the amounts resulting from the reversal of the previously established Reserves for Contingencies.
The annual dividend statement, including the payment of dividends above the minimum mandatory dividend, requires the approval by a majority of the votes of the Company’s shareholders at the Annual Shareholders’ Meeting and will depend on several factors, among which are the Company’s operating results, financial position, cash requirements and outlook, among other factors that the Board of Directors and the Company’s shareholders deem relevant.
The chart below the historical distribution of T4F‘s proceeds:
|Proceed||Fiscal Year||Amount Distributed in R$||Amount (R$/shrare ON)||Date of Payment|