| Year | Dividend (R$ million) |
IoE (R$ million) | Total (R$ million) | Net Income (R$ million) | Pay-out (%) | Market Cap(1) (R$ million) |
Dividend Yield (%) |
|---|---|---|---|---|---|---|---|
| 2024 | – | 1,450.0 | 1,450.0 | – | – | – | – |
| 2023 | – | 832.6 | 832.6 | 2,113.7 | 39.4% | 64,842 | 1.3% |
| 2022 | – | 800.1 | 800.1 | 1,262.3 | 63.4% | 66,643 | 1.2% |
| 2021 | – | 656.9 | 656.9 | 1,677.7 | 39.2% | 88,380 | 0.7% |
| 2020 | 1,960.0 | 254.8 | 2,214.8 | 459.4 | 482.1% | 132,675 | 1.7% |
(1) Market cap (ex-Treasury) as of last year’s trading day.
| Base date | Type | Approval | Approval Date | Payment Date | Cut-off Date | Total (R$) | Gross value per share (R$) |
|---|---|---|---|---|---|---|---|
| Dec-24 | IoE | Board Minutes | 12/13/24 | 12/30/24 | 12/18/24 | 450,000,000.00 | 0.20 |
| Sep-24 | IoE | Board Minutes | 09/23/24 | 10/04/24 | 09/26/24 | 350,000,000.00 | 0.16 |
| Jun-24 | IoE | Board Minutes | 06/25/24 | 07/09/24 | 06/28/24 | 350,000,000.00 | 0.16 |
| Mar-24 | IoE | Board Minutes | 03/21/24 | 04/05/24 | 03/26/24 | 300,000,000.00 | 0.13 |
| Base date | Type | Approval | Approval Date | Payment Date | Cut-off Date | Total (R$) | Gross value per share (R$) |
|---|---|---|---|---|---|---|---|
| Dec-23 | IoE | Board Minutes | 12/13/23 | 12/28/23 | 12/18/23 | 416,288,473.74 | 0.18 |
| Sep-23 | IoE | Board Minutes | 09/29/23 | 10/27/23 | 10/16/23 | 416,288,473.74 | 0.18 |
| Base date | Type | Approval | Approval Date | Payment Date | Cut-off Date | Total (R$) | Gross value per share (R$) |
|---|---|---|---|---|---|---|---|
| Dec-22 | IoE | Board Minutes | 12/14/22 | 12/28/22 | 12/19/22 | 158,327,527.00 | 0.08 |
| Sep-22 | IoE | Board Minutes | 09/16/22 | 09/30/22 | 09/21/22 | 228,007,759.38 | 0.12 |
| Jun-22 | IoE | Board Minutes | 06/30/22 | 07/16/22 | 07/06/22 | 219,378,332.86 | 0.11 |
| Mar-22 | IoE | Board Minutes | 03/28/22 | 04/12/22 | 03/31/22 | 194,376,924.61 | 0.10 |
| Base date | Type | Approval | Approval Date | Payment Date | Cut-off Date | Total (R$) | Gross value per share (R$) |
|---|---|---|---|---|---|---|---|
| Dec-21 | IoE | Board Minutes | 12/14/21 | 12/29/21 | 12/17/21 | 186,083,505.04 | 0.09 |
| Sep-21 | IoE | Board Minutes | 09/03/21 | 09/17/21 | 09/09/21 | 168,922,454.10 | 0.09 |
| Jun-21 | IoE | Board Minutes | 06/21/21 | 07/05/21 | 06/24/21 | 156,220,490.35 | 0.08 |
| Mar-21 | IoE | Board Minutes | 03/25/21 | 05/18/21 | 03/31/21 | 145,687,604.19 | 0.07 |
| Base date | Type | Approval | Approval Date | Payment Date | Cut-off Date | Total (R$) | Gross value per share (R$) |
|---|---|---|---|---|---|---|---|
| Dec-20 | Dividends | Board Minutes | 09/03/21 | 09/17/21 | 09/09/21 | 1,960,000,000.00 | 0.99 |
| Dec-20 | IoE | Board Minutes | 12/28/20 | 03/08/21 | 01/04/21 | 254,773,928.84 | 0.13 |
Dividend Policy and Payments
Pursuant to the Brazilian Corporate Law and the Bylaws of Rede D’Or, the Company must hold an ordinary general meeting by April 30 of each year, when the resolution on the allocation of the results of the fiscal year and the distribution of dividends takes place. The payment of the annual dividend is determined on the basis of the audited financial statements for the previous fiscal year.
As set forth in the Company’s Bylaws, at least 25% of its adjusted net income shall be distributed as a mandatory annual dividend. Adjusted net income means the amount subject to distribution, prior to any deductions for statutory reserves and reserves for investment projects.
The Board of Directors of Rede D’Or may declare interim dividends in debt from the accumulated profit account or profit reserves existing in the last annual or semiannual balance sheet. Additionally, the Board of Directors may declare dividends based on the net income contained in the Company’s half-yearly or quarterly balance sheet. Dividends paid in each semester may not exceed the amount of capital reserves. Distributions of interim dividends may be attributed to mandatory dividends relating to net income at the end of the year in which the interim dividends were distributed.
The mandatory dividend may also be paid as interest on equity, treated as a deductible expense for the purposes of corporate income tax and social contribution on net income.