Dividends and Payment of Interest
Pursuant to Positivo Tecnologia’s Bylaws, at least 25% of the net income, calculated in accordance with accounting practices adopted in Brazil and adjusted in accordance with the Brazilian Corporate Law, in relation to the previous fiscal year, must be distributed as a mandatory annual dividend. Net income means the distributable amount, before any deductions for statutory reserves and reserves for investment projects.
The Brazilian Corporation Law, however, allows the suspension of the mandatory distribution of dividends in any fiscal year in which the Board of Directors reports to the General Meeting that the distribution would be inadvisable, in view of the company’s financial situation. The suspension is subject to approval at the General Meeting and analysis by the members of the fiscal council, if installed at the time.
The mandatory dividend may also be paid as interest on equity, treated as a deductible expense for IRPJ and CSLL purposes.
|Type of Provision||Date Approved||Date of Payment||Payout per Share||Total (R$ thousand)|
|Dividends||4/30/2021||05/17/2021 (1st tranche)||
|09/20/2021 (2nd tranche)||R$ 12,045|
|12/20/2021 (3rd tranche)||R$ 24,022|
|Dividends||12/10/2020||15/12/2020||R$ 0.03||R$ 4,556|
|Dividends||4/28/2017||15/12/2017||R$ 0.03||R$ 2,210|
|Dividends||4/30/2015||16/12/2015||R$ 0.07||R$ 5,818|
|Dividends||4/29/2014||16/12/2014||R$ 0.05||R$ 3.898|
|Dividends||4/30/2013||16/12/2013||R$ 0.09||R$ 7,548|
|Dividends||4/29/2011||15/12/2011||R$ 0.26||R$ 22,299|
|Dividends||4/27/2010||08/02/2010 (1st tranche)||R$ 0.58||R$ 25,000|
|11/30/2010 (2nd tranche)||R$ 25,000|
|Dividends||4/28/2009||07/31/2009 (1st tranche)||R$ 0.20||R$ 17,000|
|12/30/2009 (2nd tranche)||R$ 17,000|
|Dividends||3/25/2008||7/4/2008||R$ 0.21||R$ 18,185|
|Interest on Equity||3/25/2008||R$ 0.22||R$ 19,187|
|R$ 0.21||R$ 18,269|
|Interest on Equity||10/7/2007||R$ 0.15||R$ 13,014|
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