Approved by the Annual Shareholder’s Meeting on 23 March 2017
Distribute up to 70% of disposable earnings as follows:
- First interim dividend: up to 70% of the earnings accumulated by the first quarter; to be paid in May 2017.
- Second interim dividend: up to 70% of earnings accumulated by the second quarter, after deducting the first interim dividend; to be paid in August 2017.
- Third interim dividend: up to 70% of earnings accumulated by the third quarter, after deducting the first and second interim dividends; to be paid in November 2017.
- Supplementary dividend: up to 70% of earnings accumulated by the fourth quarter 2017, deducting the fiscal year’s three interim dividends of the already distributed; it will be paid on the date set at the Annual General Shareholder’s Meeting, unless shareholders agree at the Meeting to modify the use of the fiscal year’s remaining disposable earnings not yet distributed.
The convenience of the distribution, as well as the amounts to distribute and their payment date, if applicable, will be determined in any case by the Board of Directors, based on the availability of Company’s funds, investment plans and financial stability.