Dividends

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The Brazilian Corporation Law and the Company’s Bylaws require the shareholders’ ordinary general meeting to be held up to April 30 of each year where 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 will 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 Qualicorp’s net profits in such fiscal year.

The Qualicorp 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 Qualicorp.’s common shares and will depend on many factors. These factors include the Company’s results of operations, financial condition, cash requirements, future prospects and other factors deemed relevant by Qualicorp.’s board of directors and shareholders.

The table below shows the proceeds distributed to Qualicorp shareholders in the periods in question, pursuant to CVM Resolution 601/09.

Payment Date Type Reference Period Total (R$) Amount per Share (R$)
05/11/2016 Dividends 2014 R$ 116,316,234.19 0.424008737
05/25/2016 Dividends 2015 R$ 215,768,729.53 0.796007688
11/25/2016 Dividends 1H16 R$ 247,172,348.85 0.897071078
05/25/2016 Dividends 2016 R$ 137,318,248.87 0.492423447
09/19/2017 Dividends 1H17 R$ 100,000,000.00 0.350789649
01/16/2018 Dividends 3Q17 R$ 150,000,000.00 0.525371917
05/10/2018 Dividends 4Q17 R$ 102,174,077.55 0.360813698
06/19/2018 Dividends 1Q18 R$ 102,700,000.00 0.363017046
05/10/2019 Dividends 2Q18+3Q18 R$ 184,962,000.00 0.659317332
08/02/2019 Dividends 4Q18+1Q19 R$ 181,619,854.74 0.647259687
12/30/2019 Capital Reduction 2019 R$ 980,000,000.00 3.492539375
10/26/2020 Interest on Equity 3Q20 R$ 48,000,000.00 0.169317280
12/21/2020 Dividends 2019 R$ 1,189,948.36 0.004212910
01/13/2021 Interest on Equity 4Q20 R$ 33,954,535.68 0,119719000

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