The Board of Directors approved today the advanced payment of interest on own capital (IOC), in accordance with Brazilian legislation.
The amount of R$ 2,609 million to be paid, corresponding to a gross value of R$ 0.20 per common and preferred shares, is being accrued in our Financial Statements on June 30th, 2011. Payment date will be no later than October 31, 2011, in Brazil. The record date will be August 2, 2011, in Brazil.
The shares will be negotiated ex-interest on capital from the first business day after the record date.
This IOC restated at the Brazilian Interest Rate – SELIC from the payment date to the end of 2011 fiscal year, will be offset against the remuneration (dividends plus interest on own capital), to be paid related to the 2011 fiscal earnings.