The amount corresponds to R$1.179 per outstanding share of capital stock on this date.
The proceeds were approved by its board of directors, and no monetary restatement will be made on the date of payment.
As of November 28, 2022 the shares will start being traded ex-dividend and the second and last installment of the dividends declared on April 29, 2022, in the amount of R$ 452,235,758.72, corresponding to R$ 0.340797152645188 per share, will be available to shareholders resident in Brazil as of December 2, 2022.
CSN (CSNA3): Restructuring agreement
CSN also informed that it received correspondences from its shareholder Vicunha Aços and from CFL Participações informing the following:
Communication from Vicunha Aços: the Asset Restructuring Agreement, Transaction and Other Covenants was signed on November 20, 2022 between Rio Purus Participações and CFL Participações, shareholders that directly and indirectly hold all the shares of Vicunha Aços. Through this transaction, it was agreed to terminate the corporate relationship in the investment vehicle in CSN. The Transaction will be submitted to the Administrative Council for Economic Defense (CADE), so that its clauses will only be effective after approval.
The implementation of the transaction will result in the withdrawal of CFL from the structure of Vicunha Aços, which will be held indirectly only by Rio Purus, a subsidiary of CFL holding 135,904 451 common shares, book-entry and without par value issued by CSN, representing on this date 10.25% of its capital stock, ownership by Vicunha Aços of 543,617,803 common shares, book-entry and without par value issued by CSN, representing on this date 40.99% of its capital stock, and ownership by Rio Iaco Participações S.A., a subsidiary of Rio Purus, of 45,706. 242 common shares issued by CSN, representing on this date 3.45% of its capital stock; and execution of the Shareholders’ Agreement between Vicunha Aços and the referred subsidiary of CFL, highlighting the following rules lock-up of sale for 9 months of the shares held by the subsidiary of CFL, after the lock-up period, limitation of the volume of sale of shares of the subsidiary of CFL, right of preference in favor of Vicunha Aços in the sale of the CSN shares held by the subsidiary of CFL.
The parties have also committed to vote in favor of a dividend of up to R$ 2,314,000,000.00, including the amount of interest on shareholders’ equity and dividends that may be declared by the Board of Directors before the 2023 AGM, at the CSN’s annual general meeting that will deliberate on the financial statements for 2022.
Ibovespa
CSNA3 ended November 21, 2022 quoted at R$ 13.93.
Who is CSN?
Companhia Siderúrgica Nacional (CSN) is the largest steel producer in Brazil and Latin America, and one of the largest in the world.