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BB Seguridade to pay 1.89B reais in dividends

BB Seguridade Participações SA said it will distribute dividends worth 1.89 billion Brazilian reais, or equivalent to 90% of its net income from the second half of 2017.

The payment is equivalent to 94.67 centavos per common share, or 95.49 centavos per common share with interest accrual until Feb. 19.

The dividend amount will be accrued by the Selic rate from Dec. 31, 2017, until March 6, which is the payment date, based on the Feb. 22 shareholder position. Shares will be negotiated ex-dividends starting Feb. 23.

In addition, the company said it forecasts a change between -2.0% and 2.0% in its adjusted net income for 2018, compared to a -4.8% observed change in 2017.

As of Feb. 19, US$1 was equivalent to 3.23 Brazilian reais.