SAO PAULO, BRAZIL — JBS S.A.’s board of directors is proposing to double the dividend payment for fiscal 2008 from US$21.6 million to US$43.2 million, six times that paid in 2007.
This increase is proposed as a result of the good performance of the company in the year, highlighted by:
- Pro-forma profit of US$630 million when adjusted the exchange variation on investments abroad and excluding Goodwill amortization
- Strong EBITDA generation
- High-level of liquidity
- Low leverage
- Strong cash position
This proposal will be submitted to shareholders at the annual shareholder’s meeting scheduled for March 30. The company is recommending that the dividend be calculated based on 50% of the net profit having discounted the legal reserve and excluding the amortization of goodwill of investments made abroad. This translates from US$21,610,366.57 initially proposed to US$43,220,733.14.
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