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EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2023
EQUITY. |
Schedule of reconciliations of common and preferred outstanding shares | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
​ |  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares |  | Common shares |  | Preferred shares
Balance at beginning of the year |  | 571,929,945 | ​ | 1,091,630,395 |  | 571,929,945 |  | 1,133,816,901 |  | 571,929,945 |  | 1,129,231,487
Acquisition of Treasury shares | ​ | — | ​ | — | ​ | — | ​ | (44,564,000) | ​ | — | ​ | —
Share Bonus | ​ | 28,596,497 | ​ | 54,691,436 | ​ | — | ​ | — | ​ | — | ​ | —
Exercise of long-term incentive plan |  | — |  | 2,674,136 |  | — |  | 2,377,494 |  | — |  | 4,585,414
Balance at the end of the year |  | 600,526,442 | ​ | 1,148,995,967 | ​ | 571,929,945 | ​ | 1,091,630,395 | ​ | 571,929,945 | ​ | 1,133,816,901
Schedule of ownership of shares | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shareholders
​ | ​ | 2023*
Shareholders |  | Common |  | % |  | Pref. |  | % |  | Total |  | %
Metalúrgica Gerdau S.A.** |  | 585,793,846 |  | 97.5 |  | — |  | 0.0 |  | 585,793,846 |  | 33.3
Brazilian institutional investors |  | 2,442,108 |  | 0.4 |  | 117,790,196 |  | 10.2 |  | 120,232,304 |  | 6.8
Foreign institutional investors |  | 1,425,937 |  | 0.2 |  | 546,220,396 |  | 47.2 |  | 547,646,333 |  | 31.2
Other shareholders |  | 10,864,551 |  | 1.9 |  | 484,985,375 |  | 41.9 |  | 495,849,926 |  | 28.3
Treasury stock |  | — |  | 0.0 |  | 7,544,641 |  | 0.7 |  | 7,544,641 |  | 0.4
​ |  | 600,526,442 |  | 100.0 |  | 1,156,540,608 |  | 100.0 |  | 1,757,067,050 |  | 100.0
*As of December 31, 2023, the shareholders composition includes the share bonus ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 |  | — |  | 0.0 |  | 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
**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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023
​ |  | Common shares |  | R$ |  | Preferred shares |  | R$
Opening balance |  | — |  | — |  | 9,836,850 |  | 179,995
Exercise of long-term incentive plan |  | — |  | — |  | (2,674,136) |  | (29,813)
Capital increase with share bonus | ​ | — | ​ | — | ​ | 381,927 | ​ | —
Closing balance |  | — |  | — |  | 7,544,641 |  | 150,182
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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
Schedule of effects of interest changes in subsidiaries | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | Attributed to parent | ​ | Non-controlling | ​ | ​
​ |  | company’s interest |  | interests |  | Total
(i) Other changes |  | — |  | (9,590) |  | (9,590)
Effects of interest changes in subsidiaries |  | — |  | (9,590) |  | (9,590)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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)
(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 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Net income |  | 7,501,565 |  | 11,425,512 |  | 15,494,111
Constitution of legal reserve | ​ | (318,142) | ​ | (545,251) | ​ | (756,334)
Constitution of the tax incentives reserve | ​ | (1,138,728) | ​ | (520,478) | ​ | (367,430)
Net income before dividends and interest on capital | ​ | 6,044,695 | ​ | 10,359,783 | ​ | 14,370,347
Dividends and interest on equity based on income of the year | ​ | (2,466,503) | ​ | (5,749,906) | ​ | (5,014,450)
Dividend - adjustment in excess of the minimum estatutory undistributed | ​ | (174,952) | ​ | (332,712) | ​ | (341,150)
Total dividends | ​ | (2,641,455) | ​ | (6,082,618) | ​ | (5,355,600)
Net income before constitution of investments and working capital reserve | ​ | 3,403,240 | ​ | 4,277,165 | ​ | 9,014,747
Constitution of investments and working capital reserve | ​ | (3,403,240) | ​ | (4,277,165) | ​ | (9,014,747)
Schedule of dividends and interest on capital | The dividends for the years 2023, 2022 and 2021 are presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Dividends and interest on capital in the years
​ | ​ | ​ | ​ | ​ | ​ | Outstanding shares | ​ | ​ | ​ | ​ | ​ | ​
Period |  | Nature |  | R$ /share |  | (thousands) |  | Credit |  | Payment |  | 2023
1st quarter | ​ | Interest | ​ | 0.51 | ​ | 1,749,090 | ​ | 05/15/2023 | ​ | 05/29/2023 | ​ | 892,056
2nd quarter |  | Dividends |  | 0.43 |  | 1,749,522 |  | 08/18/2023 |  | 08/29/2023 |  | 752,172
3rd quarter |  | Dividends |  | 0.47 |  | 1,749,522 |  | 11/17/2023 |  | 12/13/2023 |  | 822,275
4th quarter |  | Dividends |  | 0.10 |  | 1,749,522 |  | 03/01/2024 |  | 03/12/2024 |  | 174,952
Proposed Interest and Dividends |  |  |  |  |  |  |  |  |  |  |  | 2,641,455
Credit per share (R$) |  |  |  | 1.51 |  |  |  |  |  |  |  |
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Dividends and interest on capital in the years
​ |  | ​ |  | ​ |  | Outstanding shares |  | ​ |  | ​ |  | ​
Period | ​ | Nature | ​ | R$ /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$) |  |  |  | 3.63 |  |  |  |  |  |  |  | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Dividends and interest on capital in the years
​ |  | ​ |  | ​ |  | Outstanding shares |  | ​ |  | ​ |  | ​
Period | ​ | Nature | ​ | R$ /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 | ​ |  |  |  |  |  |  | ​
​

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