Shareholder Remuneration

The Brazilian Corporation Law and the Bank’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 Bank’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 Banco Indusval’s net profits in such fiscal year.

Banco Indusval S.A. mandatory dividend is of at least 25% of the adjusted net income, under the terms of the Brazilian Corporate Law and the Bank’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 Banco Indusval’s common shares and will depend on many factors. These factors include the Bank’s results of operations, financial condition, cash requirements, future prospects and other factors deemed relevant by Banco Indusval’s board of directors and shareholders.

Pursuant to Article 5, paragraph 2 item (b) of its By Laws, the preferred shares issued by Banco Indusval S.A. have an equal participation in profit distribution as to the common shares.

History of Payments

The table below details the dates and amounts quarterly paid to Indusval's Shareholders as Interest on Equity:

Date of Payment Form Gross amount per common share (R$) Gross amount per preferred share (R$) Amount Paid (R$)
2017 000
2016 000
2015 000
2014 000
31/12/2014 -000
2013 000
31/12/2013 -000
2012 0.120240.120247,499,509
04/01/2013 JCP0.120240.120247,499,509
2011 0.52920.529227,839,304
04/01/2012 JCP0.168380.1683810,499,979
30/09/2011 JCP0.125080.125087,799,842
08/07/2011 JCP0.130970.130975,299,847
07/04/2011 JCP0.104770.104774,239,637
2010 0.609830.6098325,113,699
29/12/2010 JCP0.154390.154396,247,587
30/09/2010 JCP0.153410.153416,318,999
30/06/2010 JCP0.151880.151886,289,326
31/03/2010 JCP0.150150.150156,257,787
2009 0.637040.6370427,007,833
29/12/2009 JCP0.158830.158836,692,853
30/09/2009 JCP0.15590.15596,621,867
30/06/2009 JCP0.161850.161856,876,083
31/03/2009 JCP0.160460.160466,817,030
2008 0.594510.5945125,469,073
29/12/2008 JCP0.149740.149746,368,591
30/09/2008 JCP0.152010.152016,511,804
30/06/2008 JCP0.152320.152326,549,759
28/03/2008 JCP0.140440.140446,038,919
2007 0.416348810.4163488115,858,433
27/12/2007 JCP0.141440.141446,081,919
28/09/2007 JCP0.119410.119415,134,650
12/06/2007 JCP0.077333330.077333332,320,000
28/03/2007 JCP0.021545580.02154558640,000
08/02/2007 JCP0.05661990.05661991,681,864
2006 0.342357770.3423577710,169,521
15/12/2006 JCP0.074736480.074736482,220,000
27/09/2006 JCP0.043326960.043326961,287,000
27/07/2006 JCP0.038381390.038381391,140,095
29/06/2006 JCP0.091905680.091905682,730,000
29/03/2006 JCP0.086855910.086855912,580,000
23/02/2006 JCP0.007151350.00715135212,426