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EQUITY (Tables)

12 Months Ended

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:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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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