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Companhia Energ Message Board

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  • delphioracle2009 delphioracle2009 Jan 27, 2013 6:16 PM Flag

    CIG ADR Longs received $0.22987 per ADR today (01/23) :) ... More on the way :) :) :)

    Did you realize that your ADR has earned dividend which is not taxable in Brazil as well as interest on investment for which 15% tax will be withheld at source ...

    Read December 20th PR News snippet below, where section "a" is about dividend and section "B" is about interest :
    ------------------------------------------------------------------------------------------------------------------------------

    a) Extraordinary dividends of R$ 1,600,000,000.00 (one billion six hundred million Reais), corresponding to R$ 1.876492593 per share, to be paid in two tranches: the first, of R$ 1,200,000,000.00 (one billion two hundred million Reais) corresponding to R$ 1.407369445 per share, by January 15, 2013, and the second, in the amount of R$ 400,000,000.00 (four hundred million Reais) corresponding to R$ 0.469123148 per share, by June 30, 2013;

    b) Interest on Equity for the 2012 business year, to be considered as offset in the calculation of the obligatory dividend, under Paragraph 3 of Article 29 of the by-laws, in the amount of R$ 1,700,000,000.00 (one billion seven hundred million Reais), corresponding to R$ 1.993773380 per share, on which tax at 15% will be withheld at source for all stockholders except those exempted by legislation, to be paid in two tranches, by June 30, 2013 and December 30, 2013.

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    • I have never heard of, nor have I had any other dividend-paying stock,where the stockholders had to wait an entire year from the first initial payment to the final payment including all the aforementioned from the above post. And in the meantime the stock keeps falling----------shareholders need better reward for purchasing this stock.
      I am certainly hoping that stockholders who sell their ADR shares BEFORE 12/30/2013 will still have their fair share deposited in their trading accounts despite not owning the stock. Who knows what will happen-------- It is a lot to bear with a stock continuing to fall from the time I bought it and now the exceedingly long wait time, and various dates to wait for dividends/Interest on Equity----One year is serving the company well, but not the shareholders

 
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