Dividend and IoC

DIVIDEND POLICY

The Brazilian Corporation Law and the Company’s bylaws require the shareholders’ ordinary general meeting to be held no later than April 30 of each year in which 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.

The Company’s shareholders decide about the Board of Directors proposal to allocate the net income for the prior year. The Brazilian Corporation Law defines “net profits” for any fiscal year as net income for that fiscal year, net of any accumulated losses from prior fiscal years, income tax and social contribution taxes and any amounts allocated to the participation of its employees and management in Multiplan’s net profits in such fiscal year.

Multiplan´s mandatory dividend is of at least 25% of the adjusted net income, under the terms of the Brazilian Corporate Law and the Company’s bylaws, determined in the unconsolidated financial statements. The yearly distribution of dividends, including dividends in excess of the minimum mandatory dividend, requires approval by a majority vote of the holders of Multiplan’s common shares and will depend on many factors. These factors include the Company’s operations results, financial standing, cash requirements, future prospects and other factors deemed relevant by Multiplan’s Board Of Directors and shareholders.

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Dividends (R$ M) 20.1 60.9 102.9 49.0 58.7 19.9
Interest on Capital      (R$ M) 100.0 125.0 135.0 155.0 225.0 95.0 240.0 260.0 280.0 270.0 295.0 420.0 581.0 540.0
Total Distribution  (R$ M) 20.1 60.9 102.9 149.0 183.7 135.0 174.9 225.0 95.0 240.0 260.0 280.0 270.0 295.0 420.0 581.0 540.0
% of adjusted net income* 25.0% 36.0% 50.0% 47.5% 50.0% 50.0% 50.0% 64.7% 32.1% 68.3% 57.8% 62.6% 29.4% 68.5% 57.5% 59.9% 42.4%

* Adjusted net income = net income after legal reserve.

Type Approval Reference Year Date of deliberation Ex-dividend date Payment date Amount (R$) Gross value per share (R$) Adjusted gross value per share * (R$)
Dividends AGOE 2008 04/30/2009 05/01/2009 06/16/2009 R$20,083,689.50 R$0.136200 R$0.045400
Dividends AGOE 2009 04/30/2010 05/03/2010 05/19/2010 R$60,876,000.00 R$0.340400 R$0.113467
Dividends AGO 2010 04/29/2011 05/02/2011 05/12/2011 R$102,937,282.80 R$0.578722 R$0.192907
Dividends AGOE 2011 04/30/2012 11/24/2011 05/17/2012 R$49,000,000.00 R$0.274638 R$0.091546
IOC AGOE 2011 04/30/2012 11/24/2011 05/17/2012 R$100,031,267.83 R$0.561827 R$0.187276
IOC RCA 2012 12/11/2012 12/12/2012 05/21/2013 R$125,000,000.00 R$0.700820 R$0.233607
Dividends RCA 2012 03/06/2013 03/07/2013 05/21/2013 R$58,726,307.64 R$0.329661 R$0.109887
IOC RCA 2013 06/27/2013 06/28/2013 08/22/2013 R$45,000,000.00 R$0.238268 R$0.079423
IOC RCA 2013 09/26/2013 09/27/2013 11/19/2013 R$45,000,000.00 R$0.239408 R$0.079803
IOC RCA 2013 12/17/2013 12/18/2013 02/12/2014 R$45,000,000.00 R$0.239603 R$0.079868
IOC RCA 2014 06/30/2014 07/01/2014 11/18/2014 R$70,000,000.00 R$0.372651 R$0.124217
IOC RCA 2014 12/22/2014 12/23/2014 05/18/2015 R$85,000,000.00 R$0.451534 R$0.150511
Dividends AGOE 2014 04/29/2015 04/30/2015 05/18/2015 R$19,895,709.39 R$0.105391 R$0.035130
IOC RCA 2015 06/30/2015 07/01/2015 12/15/2015 R$90,000,000.00 R$0.477071 R$0.159024
IOC RCA 2015 12/21/2015 12/22/2015 05/17/2016 R$135,000,000.00 R$0.718769 R$0.239590
IOC RCA 2016 06/27/2016 07/01/2016 05/02/2017 R$95,000,000.00 R$0.504830 R$0.168277
IOC RCA 2017 06/21/2017 06/27/2017 01/29/2018 R$110,000,000.00 R$0.552058 R$0.184019
IOC RCA 2017 09/21/2017 09/27/2017 01/29/2018 R$65,000,000.00 R$0.325748 R$0.108583
IOC RCA 2017 12/21/2017 12/28/2017 01/29/2018 R$65,000,000.00 R$0.326231 R$0.108744
IOC RCA 2018 06/21/2018 06/27/2018 09/25/2018 R$110,000,000.00 R$0.553787 R$0.184596
IOC RCA 2018 09/21/2018 09/27/2018 04/25/2019 R$80,000,000.00 R$0.134590 R$0.134590
IOC RCA 2018 12/21/2018 01/02/2019 04/25/2019 R$70,000,000.00 R$0.117766 R$0.117766
IOC RCA 2019 06/24/2019 06/28/2019 10/22/2019 R$110,000,000.00 R$0.184584 R$0.184584
IOC RCA 2019 09/25/2019 10/01/2019 10/23/2020 R$80,000,000.00 R$0.134171 R$0.134171
IOC RCA 2019 12/23/2019 01/02/2019 10/23/2020 R$90,000,000.00 R$0.150888 R$0.150888
IOC RCA 2020 12/21/2020 12/29/2020 10/05/2021 R$270,000,000.00 R$0.454976 R$0.454976
IOC RCA 2021 12/22/2021 12/29/2021 10/25/2022 R$295,000,000.00 R$0.498900 R$0.498901
IOC RCA 2022 06/21/2022 06/27/2022 06/20/2023 R$145,000,000.00 R$0.247154 R$0.247154
IOC RCA 2022 09/22/2022 09/28/2022 09/20/2023 R$100,000,000.00 R$0.170702 R$0.170702
IOC RCA 2022 12/21/2022 12/27/2022 12/20/2023 R$175,000,000.00 R$0.299001 R$0.299001
IOC RCA 2023 03/27/2023 03/31/2023 03/20/2024 R$75,000,000.00 R$0.128143 R$0.128143
IOC RCA 2023 06/26/2023 06/30/2023 06/20/2024 R$145,000,000.00 R$0.248167 R$0.248167
IOC RCA 2023 09/22/2023 09/28/2023 09/20/2024 R$120,000,000.00 R$0.206054 R$0.206054
IOC RCA 2023 10/27/2023 11/03/2023 10/21/2024 R$131,000,000.00 R$0.224954 R$0.224954
IOC RCA 2023 12/21/2023 12/28/2023 12/20/2024 R$110,000,000.00 R$0.188988 R$0.188988
IOC RCA 2024 03/28/2024 04/05/2024 up to 03/31/2025 R$90,000,000.00 R$0.154829 R$0.154829
IOC RCA 2024 06/21/2024 06/27/2024 up to 06/30/2025 R$135,000,000.00 R$0.233674 R$0.233674
IOC RCA 2024 09/30/2024 12/23/2024 up to 09/30/2025 R$115,000,000.00 R$0.235329 R$0.235329
IOC RCA 2024 12/23/2024 01/02/2025 up to 12/30/2025 R$200,000,000.00 R$0.409267 R$0.409268
IOC RCA 2025 03/26/2025 04/01/2025 up to 03/31/2026 R$110,000,000.00 R$0.225157 R$0.225157

*On July, 20, 2018, Multiplan consolidated the split of the totality of the common and preferred shares issued by the Company at a ratio of 1:3. For more details, please refer to the Notice of Material Fact of July, 20, 2018 through this link.