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Banco do Nordeste do Brasil OKs interest on own capital

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Banco do Nordeste do Brasil OKs interest on own capital

Shareholders of Banco do Nordeste do Brasil SA on March 26 approved a payment of interest on its own capital, tied to 2017 profits, worth about 94.0 million Brazilian reais.

The payment is equivalent to about 1.10 reais per share, considering the rise in financial charges based on the SELIC rate variation between the balance sheet date of Dec. 31, 2017, and the date of the shareholders' approval.

Shares traded through March 26 will be entitled to the complementary payment, the bank said in a statement.

Businesses with shares of the bank will trade as "ex-interest on own capital" as of March 27.

As of March 23, US$1 was equivalent to 3.31 Brazilian reais.