DAV
Analysis
Among changes to the DAV from 2011 to 2012, the inversion between retained earnings and dividends distributed is worth noting. This occurred because of a change in how dividends are distributed; up to 2011, they had only been distributed the following year. With the payment of intermediate dividends starting in November 2012, part of the remuneration of shareholder equity from the following year was anticipated for the fiscal year, in relation to the company's performance in the period from January to September 2012.
Distribution of Added Value - DAV (BRL thousands) |
2012 |
2011 |
2010 |
|
|---|---|---|---|---|
Total added value to distribute |
536,689 |
573,155 |
231,544 |
|
Personnel |
||||
Direct remuneration |
31,758 |
27,630 |
13,832 |
|
Benefits |
2,019 |
1,171 |
539 |
|
Government Severance Indemnity Fund for Employees - FGTS |
1,441 |
943 |
457 |
|
Taxes and contributions |
||||
Federal taxes |
272,482 |
260,542 |
95,521 |
|
Municipal taxes |
319 |
387 |
195 |
|
Remuneration of third party capital |
||||
Interest |
2,663 |
6,889 |
43 |
|
Rent |
1,702 |
1,347 |
498 |
|
Others |
- |
- |
2,071 |
|
Remuneration of shareholders' equity |
||||
Dividends |
146,810 |
46,577 |
15,094 |
|
Interest on shareholder equity |
8,526 |
22,092 |
15,162 |
|
Fiscal year earnings retained |
68,969 |
205,577 |
88,132 |
|