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21. PAYMENT TO SHAREHOLDERS
 12 Months Ended
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.