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Banco ABC Brasil approves interest payment, capital stock increase

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Banco ABC Brasil approves interest payment, capital stock increase

Banco ABC Brasil SA said its board approved a payment of interest on capital totaling about 102.9 million Brazilian reais.

The payment corresponds to a gross amount of about 53.20 centavos per common and preferred share, payable to shareholders of record as of Dec. 28.

Additionally, the company's board approved a capital stock increase of about 87.4 million reais through the issuance of up to 7,014,397 new shares. The issuance of the new shares, which will consist of up to 3,596,542 common shares and up to 3,417,855 preferred shares, will take place through a private subscription, the bank said.

As of Dec. 25, US$1 was equivalent to 3.34 Brazilian reais.