Sul América SA said its board has approved a payment of interest on shareholders' equity in the total gross amount of 98.0 million Brazilian reais.

The payment corresponds to a net amount of about 8.29 centavos per common or preferred share not represented by a unit, and about 24.88 centavos per unit.

The payment will be made April 18, 2017, to shareholders of record as of Dec. 26, the company said in a Dec. 21 filing.

As of Dec. 21, US$1 was equivalent to 3.34 Brazilian reais.