Dividend Payment Policy
According to our bylaws, net income will be allocated as follows:
(i) a portion will be allocated to the payment of the minimum mandatory dividend to shareholders corresponding to 50% of the adjusted net income in accordance with the Brazilian Corporation Law (Lei das S.A.);
(ii) 5% will be applied to the constitution of a legal reserve, limited to 20% of the equity capital, under the terms of the Brazilian Corporation Law .
(iii) the remaining balance will have the destination that the General Meeting determines, and may be distributed to shareholders as dividends or retained in the reserves provided for in the Brazilian Corporation Law, with the purpose of, for example, composing the company’s master budget.
The distribution of dividends occurs annually by resolution of the Annual General Meeting. Below is the history of dividend payments by Wiz Soluções e Corretagem de Seguros: