All publicly-held companies pay part of their profits to shareholders as dividends or interest on equity (IOE) in proportion to the number of shares held by them.
Metalúrgica Gerdau S.A and Gerdau S.A. pay dividends and/or IOE equivalent to at least 30% of the year’s adjusted net income, calculated in accordance with the accounting practices in Brazil.
As of March 31, 2003, the Gerdau Group companies have been paying dividends and/or IOE quarterly as advance payment of the mandatory dividend.
Payout e Yield
DIVIDEND DISTRIBUTION (R$ million)
|Adjusted net income (Base of Dividend) *||1,863||1,292||1,435||1,282||(4,551)||(2,891)||(359)||2,171||1,142||2,083|
* Note of stockholders’ equity.
** Dividends paid per share during the fiscal year/ initial share price of the fiscal year.