The Corporations Law and the Company bylaws require holding an ordinary general meeting of shareholders by April 30 of every year in which, among other matters, shareholders should decide about the distribution of annual dividends. On the dividend declaration date, all shareholders have the right to receive dividends. Company shareholders will deliberate on the proposal from their Board of Directors regarding the disposition of net profits from the previous fiscal year. BRF obligatory dividend must be at least 25% of the adjusted net profit in accord with the Corporations Law and the Bylaws, as determined based on non-consolidated financial statements. The annual declaration of dividends, including payment of dividends beyond the obligatory minimum dividend, requires approval in an Ordinary General Meeting by a majority of BRF shareholder votes and will depend on several factors. These factors include the operating results, financial condition, cash needs and prospects of the Company, among others that the board of directors and BRF shareholders deem relevant. Moreover, it is noteworthy that the company may choose to pay dividends in the form Interest on Capital (IOC).
The following table sets forth the dividends and interest on shareholders’ equity paid to holders of our common shares since 2014 on a per share basis in reais.
|Year||Description||First Payment date||Amounts per share
|Equivalent at Payment Date
(US$ Per Share)
|2014||Interest on shareholder´s equity||15 August, 2014||0,41||0,18|
|2014||Interest on shareholder´s equity||February 13, 2015||0,43||0,15|
|2014||Dividends||February 13, 2015||0,1||0,04|
|2015||Interest on shareholder´s equity||August 14, 2015||0,5||0,14|
|2015||Interest on shareholder´s equity||February 12, 2016||0,58||0,15|
|2015||Dividends||February 12, 2016||0,11||0,03|
|2015||Dividends||April 1, 2016||0,12||0,03|
|2016||Interest on shareholder´s equity||August 15, 2016||0,64||0,2|
The following table sets forth total dividends and interest on shareholders’ equity paid in each year presented below:
|Year||Total Dividends and interest on shareholder´s Equity