Light

Investor Relations

Dividends and Interest on Shareholder's Equity

The board of directors approved, on September 28th, 2007, the Light S.A.’s Dividend Policy of at least 50% of the adjusted net income, as dividends or interest on own capital -, based on its annual or half-yearly financial statements.This policy is in accordance with the transparency position of the company with theirs stakeholders.

Approval dividend distribution - Event Approval date Ex-Dividend Dividend per share Amount Payment date Period
BDM¹ 9/28/2007* 10/29/2007 2.55 518,000,000.00 11/21/2007 2007
AGM² 3/17/2008 3/18/2008 1.00 203,462,739.00 3/31/2008 2007
BDM 11/7/2008 11/10/2008 1.72 350,766,098.00 11/21/2008 2007
AGM 3/18/2009 3/19/2009 2.00 407,867,556.00 4/2/2009 2008
AGM 3/18/2009 3/19/2009 0.45 91,770,200.10 11/27/2009 2008
BDM 11/6/2009 11/10/2009 0.46 94,729,799.90 11/27/2009 2008
AGM 03/22 and 03/24/2010 3/25/2010 2.12 432,340,207.20 4/1/2010 2009
EGM³ 9/23/2010 9/24/2010 1.78 363,002,626.80 10/01/2010 2007/08/09**
AGM² 4/28/2011 4/28/2011 1.72 350,979,306.36 5/18/2011 2010
BDM¹ 12/16/2011 12/19/2011 0.58 118,281,754.80 12/28/2011 2011 Dividends
BDM¹ 12/16/2011 12/19/2011 0.43 86,753,549.12 04/27/2012 2011 Interest on Own Capital
AEGM 4/11/2012 4/12/2012 0.44 90,079,361.98 10/11/2012 2011 Dividends
AEGM 4/11/2012 4/12/2012 0.45 91,421,951.42 10/11/2012 2010*** Dividends
BDM¹ 9/21/2012 9/24/2012 0.35 71,376,921.00 4/30/2013 2H12 - Interest on Own Capital
BDM¹ 12/14/2012 12/17/2012 0.08 15,295,054.50 4/30/2013 January to September 2012 - Interest on Own Capital
BDM¹ 12/14/2012 12/17/2012 0.83 169,877,071.98 12/27/2012 January to September 2012 - Dividends
BDM¹ 03/25/2013 04/26/2013 0.45 91,770,327.00 12/27/2013 2012 Dividends
BDM¹ 12/13/2013 12/16/2013 0.53 107,473,249.62 12/27/2013 January to September 2013 - Interest on Own Capital
AGM² 04/24/2014 04/25/2014 1.79 364,838,033.34 12/17/2014 2013 - Dividends
BDM¹ 03/06/2015 04/13/2015 0.77 157,422,432.59 Until 12/31/2015 2014 - Dividends
BDM¹ 03/28/2016 04/29/2016 0.05 10,068,707.49 Until 12/31/2016 2015 - Dividends
*Considering the reverse share split occurred on 12/03/2007 of 1000 stocks for 1 stock.
** Profit Reserve
*** Profit Reserves existing in the balance sheet of 12/31/2011, referring to 2010.
¹ Board of Directors’ Meeting
² Annual General Meeting
³ Extraordinary General Meeting

Dividend Policy

Pursuant to the Brazilian Corporate Law, the mandatory minimum dividend was established in paragraph 2 of article 24 of our Bylaws, in the amount of 25% of the net income adjusted by law.

However, according to resolution taken by our Board of Directors, Light S.A. adopted an indicative dividend policy of at least 50% of the adjusted net income — as dividends or interest on own capital —, based on its annual or half-yearly financial statements.

However, the Company's dividends policy shall not prevent, in certain events, the statement of dividends lower than 50% of its adjusted net income. Accordingly, at the Board of Directors’ discretion, the distribution of dividends higher than the mandatory minimum amount of 25 % of the adjusted net income, shall be verified as to its compatibility with the following elements: the Company's financial status; macroeconomic conditions; tax revisions and adjustments; regulatory changes; development strategy or investment plans; and other elements deemed relevant.

In any circumstances, the shareholders shall be entitled to receive, in each fiscal year, as dividends, the mandatory minimum percentage of 25% of the net income to be adjusted as follows:

  1. the addition of the amounts resulting from the reversal, in the fiscal year, of contingency reserves, previously created;
  2. the decrease in the amounts intended, in the fiscal year, for creation of legal reserves and contingency reserves;
  3. whenever the mandatory minimum dividend amount exceeds the realized portion of the net income of the fiscal year, the management may propose and the Extraordinary General Meeting approve, the allocation of the exceeding amount to create a unrealizable profit reserve (pursuant to article 197 of Law 6,404/76, with wording of Law 10,303/01).

At the Board of Directors’ discretion, the Company may prepare financial statements, on a half-yearly, quarterly and interim basis, with due regard for legal provisions (pursuant to article 24 of the Bylaws). In addition, the Board of Directors may, as per article 11, item VIII of the Bylaws and after consulting the Fiscal Council, if the latter is under operation, state, during the fiscal year and until the holding of the Extraordinary General Meeting, interim dividends, including as partial or total anticipation of the mandatory minimum dividend, to the earned income account ascertained in half-yearly, quarterly or interim balance sheets or retained earnings or reserve of profits ascertained in the last balance sheet, as well as resolve on the approval and payment of interest on own capital.

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