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
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
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
% 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%

* Adjusted net income = net income after legal reserve.

Type Approval Reference Year Date of deliberation Ex-dividend date Payment date Amount (R$) Gross value per share (R$)
Dividends RCA 2008 3/16/2009 5/1/2009 6/16/2009 R$ 20,083,689.50 R$ 0.136200
Dividends RCA 2009 3/4/2010 5/3/2010 5/19/2010 R$ 60,876,000.00 R$ 0.340400
Dividends RCA 2010 3/14/2011 5/2/2011 5/12/2011 R$ 102,937,282.80 R$ 0.578722
Dividends RCA 2011 11/22/2011 11/24/2011 5/17/2012 R$ 49,000,000.00 R$ 0.274638
IOC RCA 2011 11/22/2011 11/24/2011 5/17/2012 R$ 100,031,267.83 R$ 0.561827
IOC RCA 2012 12/11/2012 12/12/2012 5/21/2013 R$ 125,000,000.00 R$ 0.700820
Dividends RCA 2012 3/6/2013 3/7/2013 5/21/2013 R$ 58,726,307.64 R$ 0.329661
IOC RCA 2013 6/27/2013 6/28/2013 8/22/2013 R$ 45,000,000.00 R$ 0.238268
IOC RCA 2013 9/26/2013 9/27/2013 11/19/2013 R$ 45,000,000.00 R$ 0.239408
IOC RCA 2013 12/17/2013 12/18/2013 2/12/2014 R$ 45,000,000.00 R$ 0.239603
IOC RCA 2014 6/30/2014 7/1/2014 11/18/2014 R$ 70,000,000.00 R$ 0.372651
IOC RCA 2014 12/22/2014 12/23/2014 5/18/2015 R$ 85,000,000.00 R$ 0.451534
Dividends AGOE 2014 4/29/2015 4/30/2015 5/18/2015 R$ 19,895,709.39 R$ 0.105391
IOC RCA 2015 6/30/2015 6/1/2015 12/15/2015 R$ 90,000,000.00 R$ 0.477071
IOC RCA 2015 12/21/2015 12/22/2015 5/17/2016 R$ 135,000,000.00 R$ 0.718769
IOC RCA 2016 6/27/2016 6/1/2016 5/2/2017 R$ 95,000,000.00 R$ 0.504830
IOC RCA 2017 6/21/2017 6/27/2017 1/29/2018 R$ 110,000,000.00 R$ 0.552058
IOC RCA 2017 9/21/2017 9/27/2017 1/29/2018 R$ 65,000,000.00 R$ 0.325748
IOC RCA 2017 12/21/2017 12/28/2017 1/29/2018 R$ 65,000,000.00 R$ 0.326231
IOC RCA 2018 6/21/2018 6/27/2018 9/25/2018 R$ 110,000,000.00 R$ 0.553787
IOC RCA 2018 9/21/2018 9/27/2018 4/25/2019 R$ 80,000,000.00 R$ 0.134590
IOC RCA 2018 12/21/2018 1/2/2019 4/25/2019 R$ 70,000,000.00 R$ 0.117766