Banco do Brasil (BBAS3) announces billion-dollar dividends and JCP; see value

05/08/2024 20:52

Banco do Brasil (BBAS3). Photo: Disclosure

O Bank of Brazil (BBAS3) approved yesterday (7) the payment of almost R$2.614 billion in interest on equity (JCP) and dividends, or R$0.4579 per share, as reported by the company this Wednesday (8).

You dividends from Banco do Brasil will be worth R$940.587 million, while interest on equity will be worth more than R$1.673 billion. Both types of earnings have the first half of 2024 as a reference.

Per share, the value of Banco do Brasil JCP is R$0.29316146583, while in dividends the amount is R$0.16478568141 per share.

Payment will be made on June 21, 2024. The cutoff date for identifying investors entitled to receive the proceeds will be June 11 of this year.

This means that from June 12th, the shares acquired will not be counted in the distribution of dividends and interest on Banco do Brasil’s own capital.

Banco do Brasil dividends

• Value: R$ 940,587,022.62
• Value per share: R$ 0.16478568141
• Cutoff date: June 11, 2024
• Payment date: June 21, 2024

Banco do Brasil JCP

• Value: R$ 1,673,348,484.70
• Value per share: R$0.29316146583
• Cutoff date: June 11, 2024
• Payment date: June 21, 2024

BB recalls that in March this year R$1.17 billion in interest on equity (JCP) was distributed, in the form of advance remuneration.

How will payment work?

Payment of new proceeds from Banco do Brasil It will be done through a current account, gold savings account or by cash.

Investors whose registrations are out of date will end up having their income withheld until there is effective registration regularization, which can be done by the shareholder at one of the bank’s own branches.

To update your registration, the investor will need to present an identity document, their CPF and proof of residence, if they are an individual. If it is a legal entity, it will be necessary to have the bylaws or articles of incorporation and proof of representation “on hand”.

Once investors have their shares of Banco do Brasil held in custody at the B3 Central Depository, the amounts will first be distributed to that entity, which will subsequently pass the amounts on to shareholders eligible to receive them, through their custody agents.

It is worth remembering that income tax is levied at source on the value of JCP, in accordance with the rules applicable to this type of income. In the case of investors who are exempt or exempt from paying this tax, they will need to prove this condition at one of the agencies of the Bank of Brazilbut only until June 13, 2024.