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21. PAYMENT TO SHAREHOLDERS | 12 Months Ended
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Dec. 31, 2018
Payment To Shareholders |
PAYMENT TO SHAREHOLDERS | The Company's Bylaws provide the distribution of 25% minimum dividends of adjusted net income under the law, to the shareholders. The dividends are calculated in accordance with the Company’s Bylaws and in accordance with the Brazilian Corporate Law. The following is the calculation of dividends for 2018:
Allocation of profits |  |
|  | 12/31/2018
Profit for the year |  | 5,074,136
Absorption of deficits |  | (1,291,689)
Legal reserve |  | (189,122)
Allocation of profits |  | 3,593,325
Proposed destination: |  |
Mandatory minimum dividends |  | (898,332)
Intended for statutory reserve of working capital |  | (2,694,993)
In current liabilities |  |
Dividends to be paid on December 31, 2017 |  | 2,209
Mandatory minimum dividends |  | 898,332
Dividends to be paid on December 31, 2018 |  | 900,541
Weighted average number of shares |  | 1,373,251
Dividends per share approved |  | 0.65416
The following table shows the history of deliberate and paid dividends:
Approval Year |  | Dividends |  |  | Payment Year |  | Dividends
2017 (*) |  | 0,00 |  |  | 2017 |  | 0,00
2018 |  | 898,332 |  |  | 2018 |  | 0,00
Total approved |  | 898,332 |  |  | Total paid |  |
(*) There was no resolution on dividend distribution during the year of 2017.

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- Definition The disclosure of dividends. Dividends are distributions of profits to holders of equity investments in proportion to their holdings of a particular class of capital. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2018-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_10_e&doctype=Standard -URIDate 2018-03-16 + Details
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