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v3.23.1

EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2022
EQUITY. |
Schedule of reconciliations of common and preferred outstanding shares | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ |  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares
Balance at beginning of the year |  | 571,929,945 |  | 1,133,816,901 |  | 571,929,945 |  | 1,129,231,487 |  | 571,929,945 |  | 1,127,010,827
Acquisition of Treasury shares | ​ | — | ​ | (44,564,000) | ​ | — | ​ | — | ​ | — | ​ | —
Exercise of long-term incentive plan |  | — |  | 2,377,494 |  | — |  | 4,585,414 |  | — |  | 2,220,660
Balance at the end of the year |  | 571,929,945 | ​ | 1,091,630,395 | ​ | 571,929,945 | ​ | 1,133,816,901 | ​ | 571,929,945 | ​ | 1,129,231,487
​
Schedule of ownership of shares | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shareholders
​ | ​ | 2022
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | %
Metalúrgica Gerdau S.A.* |  | 557,898,901 |  | 97.5 |  | — |  | 0.0 |  | 557,898,901 |  | 33.3
Brazilian institutional investors |  | 4,292,172 |  | 0.8 |  | 157,020,405 |  | 14.3 |  | 161,312,577 |  | 9.6
Foreign institutional investors |  | 1,529,109 |  | 0.3 |  | 520,985,608 |  | 47.3 |  | 522,514,717 |  | 31.2
Other shareholders |  | 8,209,763 |  | 1.4 |  | 413,624,382 |  | 37.6 |  | 421,834,145 |  | 25.2
Treasury stock |  | — |  | 0.0 |  | 9,836,850 |  | 0.8 |  | 9,836,850 |  | 0.7
​ |  | 571,929,945 |  | 100.0 |  | 1,101,467,245 |  | 100.0 |  | 1,673,397,190 |  | 100.0
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shareholders
​ | ​ | 2021
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | %
Metalúrgica Gerdau S.A.* |  | 557,898,901 |  | 97.3 |  | — |  | — |  | 557,898,901 |  | 32.4
Brazilian institutional investors |  | 4,363,438 |  | 0.8 |  | 232,421,779 |  | 20.3 |  | 236,785,217 |  | 13.8
Foreign institutional investors |  | 1,895,038 |  | 0.3 |  | 490,810,572 |  | 42.8 |  | 492,705,610 |  | 28.7
Other shareholders |  | 7,772,568 |  | 1.4 |  | 410,584,550 |  | 35.8 |  | 418,357,118 |  | 24.3
Treasury stock |  | 1,697,538 |  | 0.2 |  | 12,214,344 |  | 1.1 |  | 13,911,882 |  | 0.8
​ |  | 573,627,483 |  | 100.0 |  | 1,146,031,245 |  | 100.0 |  | 1,719,658,728 |  | 100.0
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
* | Metalurgica Gerdau S.A. is the controlling shareholder and Indac – Ind. e Com. S.A. (holding of Gerdau’s family) is the utltimate controlling shareholder of the Company.
Schedule of changes in treasury stocks | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022
​ |  | Common shares |  | R$ |  | Preferred shares |  | R$
Opening balance |  | 1,697,538 |  | 557 |  | 12,214,344 |  | 151,852
Share buyback program | ​ | — | ​ | — | ​ | 44,564,000 | ​ | 1,073,124
Exercise of long-term incentive plan |  | — |  | — |  | (2,377,494) |  | (21,452)
Cancellation of treasury stocks | ​ | (1,697,538) | ​ | (557) | ​ | (44,564,000) | ​ | (1,023,529)
Closing balance |  | — |  | — |  | 9,836,850 |  | 179,995
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2021
​ |  | Common shares |  | R$ |  | Preferred shares |  | R$
Opening balance |  | 1,697,538 |  | 557 |  | 16,799,758 |  | 228,752
Exercise of long-term incentive plan |  | — |  | — |  | (4,585,414) |  | (76,900)
Closing balance |  | 1,697,538 |  | 557 |  | 12,214,344 |  | 151,852
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
​
Schedule of effects of interest changes in subsidiaries | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Attributed to parent | ​ | Non-controlling | ​ | ​
​ |  | company’s interest |  | interests |  | Total
(i) Other changes |  | (33,845) |  | (19,761) |  | (53,606)
Effects of interest changes in subsidiaries |  | (33,845) |  | (19,761) |  | (53,606)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | Attributed to parent | ​ | Non-controlling | ​ | ​
​ |  | company’s interest |  | interests |  | Total
(i) Other changes |  | — |  | (18,962) |  | (18,962)
Effects of interest changes in subsidiaries |  | — |  | (18,962) |  | (18,962)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
(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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Net income |  | 11,425,512 |  | 15,494,111 |  | 2,365,763
Constitution of legal reserve | ​ | (545,251) | ​ | (756,334) | ​ | (109,649)
Constitution of the tax incentives reserve | ​ | (520,478) | ​ | (367,430) | ​ | (172,792)
Net income before dividends and interest on capital | ​ | 10,359,783 | ​ | 14,370,347 | ​ | 2,083,322
Dividends and interest on equity based on income of the year | ​ | (5,749,906) | ​ | (5,014,450) | ​ | (714,487)
Dividend - adjustment in excess of the minimum estatutory undistributed | ​ | (332,712) | ​ | (341,150) | ​ | —
Total dividends | ​ | (6,082,618) | ​ | (5,355,600) | ​ | (714,487)
Net income before constitution of investments and working capital reserve | ​ | 4,277,165 | ​ | 9,014,747 | ​ | 1,368,835
Constitution of investments and working capital reserve | ​ | (4,277,165) | ​ | (9,014,747) | ​ | (1,368,835)
​
Schedule of dividends and interest on capital | The dividends for the years 2022, 2021 and 2020 are presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Dividends and interest on capital in the years
​ | ​ | ​ | ​ | ​ | ​ | Outstanding shares | ​ | ​ | ​ | ​ | ​ | ​
Period |  | Nature |  | R$ /share |  | (thousands) |  | Credit |  | Payment |  | 2022
1st quarter | ​ | Interest | ​ | 0.57 | ​ | 1,707,829 | ​ | 05/16/2022 | ​ | 05/25/2022 | ​ | 973,542
2nd quarter |  | Dividends |  | 0.71 |  | 1,693,994 |  | 08/15/2022 |  | 8/25/2022 |  | 1,199,713
3rd quarter |  | Dividends |  | 1.73 |  | 1,663,560 |  | 11/21/2022 |  | 12/14/2022 |  | 2,877,957
3rd quarter |  | Interest |  | 0.42 |  | 1,663,560 |  | 11/21/2022 |  | 12/14/2022 |  | 698,694
4th quarter |  | Dividends |  | 0.20 |  | 1,663,560 |  | 03/14/2023 |  | 3/23/2023 |  | 332,712
Proposed Interest and Dividends |  |  |  |  |  |  |  |  |  |  |  | 6,082,618
Credit per share (R$) |  |  |  | 3.63 |  |  |  |  |  |  |  |
Percentage of dividends on adjusted net income |  |  |  | 58.7 | % |  |  |  |  |  |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Dividends and interest on capital in the years
​ |  | ​ |  | ​ |  | Outstanding shares |  | ​ |  | ​ |  | ​
Period | ​ | Nature | ​ | R$ /share | ​ | (thousands) | ​ | Credit | ​ | Payment | ​ | 2021
1st quarter | ​ | Dividends | ​ | 0.40 | ​ | 1,705,338 | ​ | 5/14/2021 | ​ | 5/26/2021 | ​ | 682,199
2nd quarter |  | Dividends |  | 0.54 |  | 1,705,576 |  | 8/16/2021 |  | 8/26/2021 |  | 921,011
3rd quarter |  | Interest |  | 0.38 |  | 1,705,582 |  | 9/27/2021 |  | 11/16/2021 |  | 648,122
3rd quarter |  | Interest |  | 0.20 |  | 1,705,630 |  | 11/5/2021 |  | 11/16/2021 |  | 341,126
3rd quarter |  | Dividends |  | 1.42 |  | 1,705,628 |  | 11/5/2021 |  | 11/16/2021 |  | 2,421,992
4th quarter |  | Dividends |  | 0.20 |  | 1,705,747 |  | 3/7/2022 |  | 3/16/2022 |  | 341,150
Proposed Interest and Dividends | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5,355,600
Credit per share (R$) |  |  |  | 3.14 |  |  |  |  |  |  |  | ​
Percentage of dividends on adjusted net income |  |  |  | 37.3 | % |  |  |  |  |  |  | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Dividends and interest on capital in the years
​ |  | ​ |  | ​ |  | Outstanding shares |  | ​ |  | ​ |  | ​
Period | ​ | Nature | ​ | R$ /share | ​ | (thousands) | ​ | Credit | ​ | Payment | ​ | 2020
3rd quarter |  | Dividends |  | 0.12 |  | 1,701,161 |  | 11/6/2020 |  | 11/19/2020 |  | 204,139
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
Credit per share (R$) |  | ​ |  | 0.42 | ​ |  |  |  |  |  |  | ​
Percentage of dividends on adjusted net income |  | ​ | ​ | 34.3 | % |  |  |  |  |  |  | ​

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