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BB Seguridade to pay out 85% of H2 results in dividends

BB Seguridade Participações SA on Dec. 19 approved a dividend distribution representing an 85% a payout ratio on its second-half results.

In a company filing, the subsidiary of Banco do Brasil SA , which earlier in the month completed the sale of its joint venture stake Mapfre SA, also approved a distribution of dividends related to the first half of 2015.

In the first three quarters of the year, the company posted adjusted net income of 2.71 billion reais, an 8.80% decrease. In early August, the firm revised its full-year 2018 profit growth guidance down to between -4.0% and -6.0%.

As of Dec. 26, US$ 1 was equivalent to 3.93 Brazilian reais.