Cyrela Brazil Realty SA's board declared an intermediary dividend of 400.0 million reais, or 1.040511525 reais per common share.

In July, the Brazilian property company announced a dividend of 300.0 million reais, or 78.0383644 centavos per share.

The company will pay the new dividend Dec. 20 to shareholders of record on Dec. 10.

As of Dec. 5, US$1 was equivalent to about 4.21 reais.