Ambev SA (ADR) (NYSE:ABEV) hereby report to the shareholders of company that, as stated in the Minutes of the Board‘s Meeting held last week, the members of the firm‘s Board of Directors permitted, depending on the firm‘s extraordinary balance sheet, the distribution of dividends in the sum of R$0.07 for per share of the firm, to be deducted from the financial results of FY2017 and accredited to the minimum required payouts for the same year. The dividends distribution will be done without withholding income tax, following applicable law.
The aforementioned distribution shall be done as from February 22, 2018, bearing in mind the shareholding on and counting January 31, 2018, pertaining to BM & FBovespa, and February 02, 2018, pertaining to the NYSE, without any monetary adjustment. ADRs and Shares shall be traded ex-dividend as from and counting February 1, 2018.
Ambev reported that shareholders who have already obtained a bank account will have their credits available at the apprised account. Those who have not given such indication shall obtain from Banco Bradesco S.A. as the depositary bank, at the mentioned address, a notice having information pertaining to the payment. Such announcement shall be given at one of depositary bank branches along with the proper deposit instructions. Stockholders who hold their stocks under a fiduciary custody plan shall have their proceeds accessible according to processes adopted by the applicable stock exchange.
In the month of October, Ambev SA posted mixed quarterly results following weaker volumes, prompting some market analysts to flag the risk of declining market share. The firm posted a 1% jump in Q3 2017 net income as compared to a year ago, barring a major tax settlement.
In the last trading session, the stock price of Ambev gained 0.16% to close the day at $6.27. The gains came at a share volume of 9.29 million compared to average share volume of 18.40 million.