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Equity (Tables)
 12 Months Ended
Dec. 31, 2022
Equity  
Share capital
                    
   December 31, 2022  December 31, 2021
   Number of shares  %  Number of shares  %
State Department of Finance   343,506,664    50.3    343,506,664    50.3 
Other shareholders                    

 

  In Brazil (1)   257,339,417    37.6    234,965,971    34.4 
  Abroad (2) (3)   82,663,788    12.1    105,037,234    15.3 
                     
    683,509,869    100.0    683,509,869    100.0 

 

(1) As of December 31, 2022, the common shares traded in Brazil were held by 31,351 shareholders. It includes six shares held by Companhia Paulista de Parcerias (CPP), which is controlled by the São Paulo State Government.

 

(2) Shares traded as American Depositary Receipts (ADR) on the New York Stock Exchange, through The Bank New York Mellon, the depositary bank for the Company's ADRs.

 

(3) Each ADR corresponds to 1 share.
Distribution of earnings
               
   2022  2021  2020
Profit for the year   3,121,267    2,305,869    973,318 
(-) Legal reserve - 5%   156,063    115,293    48,666 
                
    2,965,204    2,190,576    924,652 
                
Minimum mandatory dividend – 25%   741,301    547,645    231,163 
Dividend per share and per ADS   1.08455    0.80122    0.33820 
Allocation of the profit for the year
     
  2022 2021 2020
Profit      
(+) Profit for the year 3,121,267 2,305,869 973,318
(-) Legal reserve – 5% 156,063 115,293 48,666
(-) Minimum mandatory dividends 741,301 547,645 231,163
(-) Complementary minimum dividends 130,857 96,700 40,806
Investment reserve recorded 2,093,046 1,546,231 652,683
Other comprehensive loss
               
   G1 plan  G0 plan  Total
          
Balance as of December 31, 2021   212,114    (165,740)   46,374 
Actuarial gains/(losses) for the year (Note 22)   (30,497)   161,766    131,269 
Balance as of December 31, 2022   181,617    (3,974)   177,643