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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.

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    • 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.

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

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