Dividends / IOC

The Company’s Bylaws provide the distribution of a minimum annual dividend, non-cumulative, of at least 25% (twenty-five percent) of the net income for the year, pursuant to article 202 of the Brazilian Corporation Law (Lei das Sociedades por Ações).

The Company may, at any time, draw up semi-annual, quarterly or less periodical balance sheets, in compliance with legal requirements or to meet corporate interests, including for, by resolution of the Board of Directors, the distribution of interim or anticipated dividends, which, if distributed, may be imputed to the minimum mandatory dividend referred to above.

For more information on the distribution of Dividends, please refer item 2.7 of the Company’s Reference Form.

Declared Earnings (R$ millions)