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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2020
EQUITY |
Schedule of reconciliations of common and preferred outstanding shares |
|  | 2020 |  | 2019 |  | 2018
|  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares
Balance at beginning of the year |  | 571,929,945 |  | 1,127,010,827 |  | 571,929,945 |  | 1,124,233,755 |  | 571,929,945 |  | 1,137,327,184
Acquisition of Treasury shares |  | - |  | - |  | - |  | - |  | - |  | (16,000,000)
Exercise of long-term incentive plan |  | - |  | 2,220,660 |  | - |  | 2,777,072 |  | - |  | 1,597,235
Transfer of shares |  | - |  | - |  | - |  | - |  | - |  | 1,309,336
Balance at the end of the year |  | 571,929,945 |  | 1,129,231,487 |  | 571,929,945 |  | 1,127,010,827 |  | 571,929,945 |  | 1,124,233,755
Schedule of ownership of shares |
|  | Shareholders
|  | 2020
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | %
Metalúrgica Gerdau S.A.* |  | 557,898,901 |  | 97.3 |  | 2,147,800 |  | 0.2 |  | 560,046,701 |  | 32.6
Brazilian institutional investors |  | 3,397,955 |  | 0.6 |  | 227,262,531 |  | 19.8 |  | 230,660,486 |  | 13.4
Foreign institutional investors |  | 3,142,148 |  | 0.5 |  | 492,076,396 |  | 42.9 |  | 495,218,544 |  | 28.8
Other shareholders |  | 7,490,941 |  | 1.3 |  | 407,744,760 |  | 35.6 |  | 415,235,701 |  | 24.1
Treasury stock |  | 1,697,538 |  | 0.3 |  | 16,799,758 |  | 1.5 |  | 18,497,296 |  | 1.1
|  | 573,627,483 |  | 100.0 |  | 1,146,031,245 |  | 100.0 |  | 1,719,658,728 |  | 100.0
|  | Shareholders
|  | 2019
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | %
Metalúrgica Gerdau S.A.* |  | 557,898,901 |  | 97.3 |  | 69,852,184 |  | 6.1 |  | 627,751,085 |  | 36.5
Brazilian institutional investors |  | 3,068,614 |  | 0.5 |  | 241,698,143 |  | 21.1 |  | 244,766,757 |  | 14.2
Foreign institutional investors |  | 3,875,655 |  | 0.7 |  | 427,735,548 |  | 37.3 |  | 431,611,203 |  | 25.1
Other shareholders |  | 7,086,775 |  | 1.2 |  | 387,724,952 |  | 33.8 |  | 394,811,727 |  | 23.0
Treasury stock |  | 1,697,538 |  | 0.3 |  | 19,020,418 |  | 1.7 |  | 20,717,956 |  | 1.2
|  | 573,627,483 |  | 100.0 |  | 1,146,031,245 |  | 100.0 |  | 1,719,658,728 |  | 100.0
|  | Shareholders
|  | 2018
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | %
Metalúrgica Gerdau S.A.* |  | 557,898,901 |  | 97.3 |  | 95,469,922 |  | 8.3 |  | 653,368,823 |  | 38.0
Brazilian institutional investors |  | 2,383,207 |  | 0.4 |  | 224,073,547 |  | 19.6 |  | 226,456,754 |  | 13.2
Foreign institutional investors |  | 4,836,488 |  | 0.8 |  | 410,387,290 |  | 35.8 |  | 415,223,778 |  | 24.1
Other shareholders |  | 6,811,349 |  | 1.2 |  | 394,302,996 |  | 34.4 |  | 401,114,345 |  | 23.3
Treasury stock |  | 1,697,538 |  | 0.3 |  | 21,797,490 |  | 1.9 |  | 23,495,028 |  | 1.4
|  | 573,627,483 |  | 100.0 |  | 1,146,031,245 |  | 100.0 |  | 1,719,658,728 |  | 100.0
*Metalúrgica Gerdau S.A. is the controlling shareholder and Indac – Ind. Adm. e Com. Ltda. is the ultimate controlling shareholder of the Company.
Schedule of changes in treasury stocks |
|  | 2020
|  | Common shares |  | R$ |  | Preferred shares |  | R$
Opening balance |  | 1,697,538 |  | 557 |  | 19,020,418 |  | 241,985
Exercise of long-term incentive plan |  | - |  | - |  | (2,220,660) |  | (13,233)
Closing balance |  | 1,697,538 |  | 557 |  | 16,799,758 |  | 228,752
|  | 2019
|  | Common shares |  | R$ |  | Preferred shares |  | R$
Opening balance |  | 1,697,538 |  | 557 |  | 21,797,490 |  | 279,869
Exercise of long-term incentive plan |  | - |  | - |  | (2,777,072) |  | (37,884)
Closing balance |  | 1,697,538 |  | 557 |  | 19,020,418 |  | 241,985
|  | 2018
|  | Common shares |  | R$ |  | Preferred shares |  | R$
Opening balance |  | 1,697,538 |  | 557 |  | 8,704,061 |  | 75,528
Repurchases |  | - |  | - |  | 16,000,000 |  | 243,396
Exercise of long-term incentive plan |  | - |  | - |  | (1,597,235) |  | (27,433)
Transfer of shares |  | - |  | - |  | (1,309,336) |  | (11,622)
Closing balance |  | 1,697,538 |  | 557 |  | 21,797,490 |  | 279,869
Schedule of effects of interest changes in subsidiaries |
|  | December 31, 2020
|  | Attributed to parent |  | Non-controlling |  |
|  | company’s interest |  | interests |  | Total
(i) Other changes |  | - |  | 12,776 |  | 12,776
Effects of interest changes in subsidiaries |  | - |  | 12,776 |  | 12,776
|  | December 31, 2019
|  | Attributed to parent |  | Non-controlling |  |
|  | company’s interest |  | interests |  | Total
(i) Other changes |  | - |  | (1,586) |  | (1,586)
Effects of interest changes in subsidiaries |  | - |  | (1,586) |  | (1,586)
|  | December 31, 2018
|  | Attributed to parent |  | Non-controlling |  |
|  | company’s interest |  | interests |  | Total
(i) Other changes |  | - |  | (85,483) |  | (85,483)
Effects of interest changes in subsidiaries |  | - |  | (85,483) |  | (85,483)
(i) Other changes in subsidiaries without losing control, which may include among others, capital increases, other acquisitions of interests and dilutions of any nature.
Schedule of dividend amounts considered as distributed using the balance of the Investments and Working Capital Reserve |
|  | 2020 |  | 2019 |  | 2018
Net income |  | 2,365,763 |  | 1,203,736 |  | 2,303,868
Constitution of legal reserve |  | (109,649) |  | (55,876) |  | (115,193)
Constitution of the tax incentives reserve |  | (172,792) |  | (86,216) |  | (17,051)
Net income before dividends and interest on capital |  | 2,083,322 |  | 1,061,644 |  | 2,171,624
Dividends and interest on capital |  | (714,487) |  | (356,539) |  | (765,339)
Net income before constitution of investments and working capital reserve |  | 1,368,835 |  | 705,105 |  | 1,406,285
Constitution of investments and working capital reserve |  | (1,368,835) |  | (705,105) |  | (1,406,285)
Schedule of dividends and interest on capital |
|  | Dividends and interest on capital in the years
|  |  |  |  |  | Outstanding shares |  |  |  |  |  |  |  |  |  |
Period |  | Nature |  | R$ /share |  | (thousands) |  | Credit |  | Payment |  | 2020 |  | 2019 |  | 2018
1st quarter |  | Dividends |  | - |  | - |  | - |  | - |  | - |  | 118,803 |  | -
1st quarter |  | Interest |  | - |  | - |  | - |  | - |  | - |  | - |  | 136,152
2nd quarter |  | Dividends |  | - |  | - |  | - |  | - |  | - |  | 118,817 |  | -
2nd quarter |  | Interest |  | - |  | - |  | - |  | - |  | - |  | - |  | 238,293
3rd quarter |  | Dividends |  | 0.12 |  | 1,701,161 |  | 11/6/2020 |  | 11/19/2020 |  | 204,139 |  | 67,951 |  | 221,278
4th quarter |  | Dividends |  | - |  | - |  | - |  | - |  | - |  | 50,968 |  | 169,616
4th quarter |  | Interest |  | 0.17 |  | 1,701,161 |  | 12/21/2020 |  | 3/25/2021 |  | 289,197 |  | - |  | -
4th quarter |  | Interest |  | 0.13 |  | 1,701,161 |  | 3/11/2021 |  | 3/25/2021 |  | 221,151 |  | - |  | -
Proposed Interest and Dividends |  |  |  |  |  |  |  |  |  |  |  | 714,487 |  | 356,539 |  | 765,339
Credit per share (R$) |  |  |  |  |  |  |  |  |  |  |  | 0.42 |  | 0.21 |  | 0.45

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