Dividend Payment History

The Brazilian Corporation Law and the Company's Bylaws require the holding of an annual general shareholders meeting by April 30 of each year, at which, among other matters, shareholders must decide upon the distribution of annual dividends. All shareholders, on the dividend declaration date, are entitled to receive dividends.

The Company's shareholders will deliberate on the proposal of its Board of Directors for the allocation of net income from the previous fiscal year. For the purposes of the Brazilian Corporation Law, net income is defined as the result of the year that remains after deducting accumulated losses from previous fiscal years, the amounts related to income tax and social contribution and any amounts intended for the payment of statutory profit sharing for employees and managers.

Banco Daycoval's mandatory dividend is at least 25% of the adjusted net income, pursuant to the Brazilian Corporation Law and the Bylaws, determined in the unconsolidated financial statements. The annual declaration of dividends, including the payment of dividends in addition to the minimum mandatory dividend, requires approval by the General Shareholders Meeting by a majority vote of shareholders holding Banco Daycoval shares and will depend on several factors. Among these are the Company's operating results, financial condition, cash needs and future prospects, among other factors that Banco Daycoval's board of directors and shareholders deem relevant.

Table of dividends and interest on equity distributed to Banco Daycoval shareholders in the periods indicated.

Date of
Payment
Dividend/Interest on
Shareholders' Equity
Value Value per
Share (in R$)
2004 Dividend 20,000,000.00 -
ISE 24,990,000.00 -
Total 2004   44,990,000.00 -
2005 Dividend 26,217,128.44 -
ISE 31,000,000.00 -
Total 2005   57,217,128.44 -
2006 Dividend 0.00 -
ISE 28,400,000.00 -
Total 2006   28,400,000.00 -
03/08/2007 ISE 4,586,000.00 1.3806
6/21/2007 ISE 8,779,661.92 0.0524
01/10/2008 ISE 42,425,264.68 0.1951
4/15/2008 Dividend 1,262,447.15 0.0057
Total 2007    57,053,373.75 1.6338
04/10/2008 ISE 22,955,741.42 0.10311
7/15/2008 ISE 24,277,218.00 0.10916
10/15/2008 ISE 24,711,146.83 0.11138
1/15/2009 ISE 21,471,567.55 0.09759
Total 2008    93,415,673.80 0.42124
4/15/2009 ISE 24,265,286.83 0.11063
7/15/2009 ISE 23,849,857.06 0.11008
10/08/2009 ISE 25,450,578.84 0.11765
1/15/2010 ISE 21,000,152.76 0.09778
Total 2009   94,565,875.49 0.43614
4/15/2010 ISE 24,530,700.45 0.11422
5/20/2010 Dividend 96,724,667.83 0.45037
7/15/2010 ISE 23,066,270.37 0.10725
10/15/2010 ISE 23,909,489.14 0.11096
1/17/2011 ISE 25,021,357.96 0.11612
Total 2010   193,252,485.75 0.89892
4/15/2011 ISE 25,799,235.18 0.11973
6/20/2011 Dividend 27,023,685.08 0.12540
10/17/2011 ISE 39,444,649.67 0.18290
1/16/2012 ISE 39,667,974.61 0.18390
4/27/2012 Dividend 32,139,903.30 0.14900
Total 2011    164,075,447.84 0.76093
4/16/2012 ISE 28,321,941.63 0.13130
7/16/2012 ISE 28,780,478.51 0.13340
7/16/2012 Dividend 30,010,229.10 0.13910
10/15/2012 ISE 26,270,027.82 0.12160
10/15/2012 Dividend 15,122,548.91 0.07000
01/15/2013 ISE 25,375,961.28 0.11738
04/29/2013 Dividend 6,977,000.00 0.03189
Total 2012   160,858,187.25 0.74467
04/15/2013 ISE 24,485,726.55 0.11400
07/15/2013 ISE 30,214,481.74 0.12240
10/15/2013 ISE 31,286,907.64 0.12720
01/15/2014 ISE 26,284,712.21 0.10856
Total 2013   112,271,828.14 0.47216
04/15/2014 ISE 29,109,296.98 0.11764
07/15/2014 ISE 31,415,514.40 0.12616
10/15/2014 ISE 30,383,780.05 0.12390
15/01/2015 ISE 29,272,785.63 0.12013
Total 2014   120,181,377.06 0.48783
04/15/2015 ISE 34,093,519.65 0.13987
07/15/2015 ISE 36,546,563.70 0.14991
10/15/2015 ISE 39,051,559.00 0.16005
15/01/2016 ISE 43,992,269.43 0.18020
Total 2015   153,683,911.78 0.63003
04/15/2016 ISE 51,267,350.61 0.21000
07/18/2016 ISE 53,708,653.02 0.22000
10/17/2016 ISE 48,588,410.43 0.23800
01/16/2017 ISE 40,906,405.51 0.20040
Total 2016   194,470,819.57 0.86840
04/17/2017 ISE     47,744,552.14   0.23390
07/17/2017 ISE     48,254,861.59   0.23640
09/29/2017 ISE     47,032,160.15   0.23041
12/28/2017 ISE     45,274,654.40   0.22180
Total 2017   188,306,228.28 0.92251
04/16/2018 ISE     48,867,232.93   0.23940
07/16/2018 ISE     50,014,408.58   0.24502
10/15/2018 ISE     49,500,016.65   0.24250
10/30/2018 Dividend   580,400,000.00   2.84337
01/15/2019 ISE     49,390,955.40   0.21398
Total 2018   778,172,613.56 3.78427
04/15/2019 ISE     54,794,461.64   0.23739
07/15/2019 ISE     51,496,037.71   0.22310
10/15/2019 ISE     49,215,531.87   0.21322
01/15/2020 ISE     41,640,005.39   0.18040
10/15/2019 Dividend   150,000,963.99   0.64986
11/11/2019 Dividend   150,000,963.99   0.64986
02/13/2020 Dividend     74,735,038.50   0.32378
Total 2019   697,149,249.91 3.02031
04/15/2020 ISE     45,243,802.93   0.02393
07/15/2020 ISE 44,544,253.95 0.02356
Total 2020   89,788,056.88 0.04749