With a long history in Brazil’s capital markets, Eternit has been listed on the BM&FBovespa since 1948 and in 2006 was listed under the ticker ETER3 on the Novo Mercado, the listing segment with the highest corporate governance standards, through which it voluntarily undertook to comply with differentiated management, transparency and market relations practices. The Information Disclosure and Use Manual and the Securities Trading Policy of Eternit S.A. were consolidated in 2002.
Eternit stock (ETER3) ended 2013 quoted at R$8.74, which represents a gain of 7.9% from the end of 2012, while the Bovespa Index (Ibovespa) ended the same period at 51,507 points, for a loss of 15.5%. On December 31, 2013, Eternit’s market capitalization stood at R$782.2 million.
8 % gain in the company’s stock in 2013
| ETER3* stock price, end of period (R$) |
Number of shareholders | Average trade volume (R$ ‘000) | ||||
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| * Closing value of the last business day of the year. | ||||||
| Dividend yield (%) | Net income vs. Distributed earnings (R$ million) | ||||
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American Depositary Receipts (ADRs) are tradable U.S. certificates that represent the ownership of shares in a non-U.S. company. Quoted and traded in U.S. dollar, ADRs were created to facilitate transactions in foreign securities by U.S. investors.
Eternit’s Level 1 ADR Program was approved by the Securities and Exchange Commission of Brazil (CVM) and implemented by the U.S. Securities and Exchange Commission (SEC) in 2010. As a result, the Company’s ADRs are traded on the U.S. Over-the-Counter (OTC) market under the ticker ETNTY. The first trade in the Company’s ADRs occurred in 2012. Eternit discloses its earnings on a quarterly basis in the main communication vehicles of the United States and the United Kingdom to gain greater visibility and attract investors.
Eternit remains one of the Brazilian corporations with the highest returns for its shareholders. In 2013, its dividend yield was 9.9% and earnings distributed to shareholders amounted to R$71.6 million. The distribution of dividends and interest on equity has historically been made on a quarterly basis, and the dividend policy is set forth in Article 30 of the Bylaws, which defines the allocation of net income for the year.