Mon, Dec 22, 2014, 10:14 PM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

Companhia Energética de Minas Gerais S.A Message Board

  • jomariejds44 jomariejds44 Jan 23, 2013 10:27 PM Flag

    $1.27 seen as the annual dividend from the stock page itself yet, we are getting approximately 0.69 now and 0.23 later in the month---that is what I was referring to as the "discrepancy" on my post from the previous topic

    Just trying to find out why $1.27 is listed as the annual dividend, yet ADRs get 0.92. Has nothing to do with wanting it fast; just want to know what occurred.
    And yes, I did read everything from the company page.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • either you did not read or you don't understand what you read. At what grade did you drop out of K-12 ... :)

      All those who had CIG ADR as of close of December 26th and as market opened on December 27th might have received 1st portion ( R$ 1.407369445 which is $0.68961102805 per ADR/share) in their account today (01/23).

      The second portion of the dividend (R$ 0.469123148 which is $0.22987034252 per ADR/share) will be paid out for normal shares by June 30th and for ADR in another 7 to 10 days).

      That is not the end of all the money there will be interest on equity mentioned in part "b)" of the PR announcement of December 20th. First payment of it ( first half payment of R$ 1.993773380 which is $0.9769489562, with 15% Brazilian tax withheld at source) would be made on June 30 by normal shares and in another 7 to 10 business days for ADR. the 2nd portion of that being paid out on December 30th and in 7 to 10 business days for ADR

      Hope all the longs of CIG are now happy ...

      Read December 20th PR News snippet below:
      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.

4.81+0.18(+3.89%)Dec 22 4:02 PMEST

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
Gilead Sciences Inc.
NASDAQMon, Dec 22, 2014 4:00 PM EST
Henry Schein, Inc.
NASDAQMon, Dec 22, 2014 4:00 PM EST
Rite Aid Corporation
NYSEMon, Dec 22, 2014 4:01 PM EST