Brazilian stocks erased earlier declines, led by banks, on speculation that a bill to tax payments to shareholders will be shelved. The real rose for a third day.
Yes its the Supreme Court. From what I understand CIG has a lawyer voicing an appeal.
Ultimately what the court is upholding is a law imposed by the government, which is why the political negoitation is another option.
I don't know what to think about GOL. I have never seen a company where the TBV is negative and past year EPS losses exceeded the stock value.
Yet the cash to debt levels seem reasonable and operating cash flow was positive in Q1 due to large "non-cash item" listings.
It does have good market share and seems to be a well run airline based on my personal experience.
"hard to see how they can have a good negotiation position now the court is against the company"
They are contesting the court's decision while negotiating with the govt.
I can't imagine they will accept if they can't negotiate a profitable term. The government needs an experienced company to run those facilities and Eletrobras is in waaay to deep to take on something like this.
Did you see yesterday's announcement about CEMIG wanting to invest $1.5 billion US in solar and renewables? Dilma recently announced she was interested in putting more of the grid on alternatives, so CIG may be participating in this project as part of the negotiations to retain access to the hydro generators.
Agree with your analysis.
I own VALE, CIG, GFA, ITUB and BBD.
ELP, BRFS, ERJ, and ABEV are very good companies, but I don't like the valuation as much at these prices..
PBR might be a good value, but there are a lot of variables.
I have very small gambling positions on EBR and OIBR also, but those are high risk plays.
Sorry for the mixed message. He did not say there would be more details during the 2Q report. That is my estimate.
Cemig: solução sobre concessão de usinas deve vir até o final de 2015
The first half of 2015 brought Gafisa another step closer to solid
levels of profitability. We are pleased to report that consolidated
net income totaled R$60.1 million in the first six months of the
year, reversing a loss of R$ 40.6 million recorded in the same
period last year. In the second quarter specifically, consolidated
net income was R$28.5 million. The Tenda segment accounted for
R$20.0 million of the total, maintaining the previous quarter’s
performance to end the first half of 2015 with net income of R$
31.4 million. Tenda’s performance reflects its consolidation and
the growing participation of new projects launched under its
current business model. The Gafisa segment, in turn, recorded net
income of R$8.5 million in the quarter and R$28.7 million in 1H15,
as a result of targeted efforts to sell inventory and reduce the level
It doesn't seem logical that they would pay out any new declarations in 2015 if they suspended the 2014 payments.
The 0.03 payment on June 30th was a portion of the IOC owed for 2014.
Could you post the source of the ex-divs please. I tried to post another early May press report that yahoo deleted. The report said they were suspending payment of 2014 dividends and IOC payments until financial visibility improved. I saw no information related to any ex-div dates in 2015...
We advise our stockholders that the Ordinary and Extraordinary General Meetings of Stockholders held, concurrently, on April 30, 2015, decided the following corporate action:
Of the Net profit for 2014, in the amount of R$ 3,136,639,000, and the balance of Retained Earnings, in the amount of R$ 70,508,000, a total of R$ 797,317,000 will be allocated as the minimum obligatory dividend to the Company’s stockholders as follows:
R$ 230,000,000 in the form of Interest on Equity, under Board Spending Decision (CRCA) 117/2014 of December 12, 2014, and CRD-455/2014, of December 26, 2014, to be paid in two equal installments, by June 30, 2015 and by December 30, 2015, to stockholders whose names were on the Company’s Nominal Share Register on December 26, 2014.
R$ 567,317,000 in the form of dividends for the business year 2014, equal to R$ 0.450866721 per share, to be paid by December 30, 2015, depending on availability of cash and at the discretion of the Executive Board, to holders of record on April 30, 2015, for shares traded on the São Paulo Stock Exchange (BM&FBovespa).
Where are you getting your information from? NASDAQ?
Here is what the company released:
Cemig advises its stockholders that on June 30, 2015 it will pay the first portion of the Interest on Equity relating to the Company’s result for the 2014 business year.
As decided by the meeting of the Executive Board of December 26, 2014, and as published in the Notice to Stockholders of the same date, the amount paid on June 30, 2015 will be:
R$ 115,000,000.00 (one hundred fifteen million Reais),
corresponding to R$ 0.091394534 per share.
For shares traded on the BM&FBovespa, this benefit will be paid to stockholders of record on December 26, 2014. The shares first traded ‘ex-’ these rights on December 29, 2014.