JBS Proposes Doubling Dividend Payment
BRAZIL - The Board of Directors of JBS S.A. are proposing to double the dividend payment for the 2008 financial year because the company has had such a successful trading performance.
12 March 2009
1 minute read
This would raise the dividend payments from R$51.1 million to R$102.3 million, six times that paid in 2007.
This increase is proposed as a result of the good performance of the Company in the year, highlighted by:
- Pro-forma profit of R$1.05 billion when adjusted the exchange variation on investments abroad and excluding Goodwill amortisation
- Strong EBITDA generation,
- High level of liquidity
- Low leverage and
- Strong cash position
This proposal will be submitted to shareholders at the Annual Shareholders' Meeting scheduled for 30 March.
The Company is recommending that the dividend be calculated based on 50 per cent of the net profit, having discounted the Legal Reserve and excluding the amortisation of goodwill of investments made abroad.
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