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Shareholders' Compensation | 12 Months Ended
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Dec. 31, 2021
Shareholders Compensation |
Shareholders' Compensation |
| 25. | Shareholders' Compensation
The Company’s Bylaws provide for the distribution of minimum dividends of 25% of the adjusted net income in accordance with the law, to the holders of their shares. Dividends are calculated in accordance with the bylaws and the Joint Stock Company Act. The profit destination for 2021 is shown below: Schedule of deliberate and paid dividends
|  |  | 12/31/2021
Profit for the year |  |  | 12,258,628
Capital reserve | 5% |  | (612,931)
Profit for allocation |  |  | 11,645,697
Mandatory minimum dividends (i) | 25% |  | (2,911,424)
Statutory reserve |  |  | (8,734,273)
(i) |  | Of the total mandatory minimum dividend, in the amount of R$2,911,424, the Company's Board of Directors, in a meeting held on July 27, 2021, approved the distribution of dividends to shareholders, as an anticipation of the mandatory minimum dividend based on the net income generated until June 30, 2021, in the amount of R$1,750,000, corresponding to R$1.26801069070972 per share, which had already been paid by year-end. Additionally, on December 29, 2021, the Board of Directors approved the payment to shareholders, also as an anticipation of the minimum mandatory dividend, of interest on equity in the amount of R$256,953, based on net income generated until November 30, 2021, corresponding to the amount of R$ 0.19150790423 per share, before taxes, which will be paid to shareholders until May 30, 2022. Thus, the remaining balance of the minimum mandatory dividend, in the amount of R$904,471, as shown in the table below, will be deliberated at the Company's Annual General Meeting.
Schedule of share based compensation
Nature | Approval | Amount | R$/per share
Anticipated Dividends | BoD 07/27/2021 | 1,750,000 | 1.26801069070972
Interest on equity | BoD 12/29/2021 | 256,953 | 0.19150790423
Mandatory minimum dividends |  | 904,471 | 0.67410640690
|  | 2,911,424 |
At the Annual General Meeting, will be realized on April 29, 2022, the proposal for allocation of profits presented in the financial statements will be deliberated. Accounting Policy
The Company adopts a profit distribution policy which, in compliance with the provisions of Law No. 6,404 / 76 as amended by Law No. 9,457 / 97, will imply the allocation of all net income to its shareholders, provided that the following priorities are preserved, regardless of its order: (i) business strategy; (ii) compliance with obligations; (iii) making the necessary investments; and (iv) the maintenance of a good financial situation for the Company. In accordance with article 33 of the Company’s Bylaws, at least 25% of the net income for the year, adjusted under the terms of article 202 of Law No. 6,404 / 76, will be distributed as dividends in each fiscal year, which will be reflected in current liabilities. In addition, the Board of Directors may pay interest on net equity by allocating the amount of interest paid or credited to the minimum mandatory dividend mentioned above. If the Company reports a dividend higher than the mandatory minimum in the allocation proposal, this amount is highlighted in a specific account in shareholders’ equity under “Proposed Additional Dividend”.

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