What is Tegma’s dividend payment policy?

Tegma’s mandatory dividend is at least 25% of the adjusted net income, in accordance with the Brazilian Corporation Law and its Articles of Organization.

However, in a meeting of the Board of Directors held on February 11, 2010, the adoption of an Indicative Policy for the distribution of dividends of the Company was approved, so that future dividend distributions, including interest on equity, are carried out in the minimum amount equivalent to 50% of net income for the year. The Distribution Policy also establishes two advance payments in August and in November, referring to the results of the first half of each year and the third quarter, respectively. Complementary dividends are proposed in a Management Proposal delivered to the CVM together with the Financial Statements for approval at the Meeting in April of the following year.

In the Dividend History section, we list all dividend and interest on equity payments made by Tegma since the IPO.