WEG (WEGE3) will pay R$181.6 million in interest on equity; see conditions – Money Times

The distribution will take place to holders of book-entry shares on June 24, 2022, the company said (Image: REUTERS/Amanda Perobelli)

The board of directors of WEG (WEGE3) approved this Tuesday (21) the payment of R$ 181.66 million in interest on equity (JCP), corresponding to BRL 0.043294118 per share.

The 15% withholding income tax will be deducted from the total amount, except for shareholders that are proven to be immune or exempt.

Therefore, the payment will be made in the net amount of R$ 0.036800000 per share.

The distribution will be carried out to holders of book-entry shares on June 24, 2022, the company said in a document released to the market. As of June 27, 2022, the shares will be traded “ex-JCP”.

Payment will take place on August 17, 2022.

The amount paid as JCP will be included in the mandatory dividends.

purchase recommendation

BTG Pactual recently changed WEG’s recommendation from “neutral” to “buy”.

In addition to the change in recommendation, BTG presented a new estimated target price of BRL 40 for 2023.

This is BTG’s first buy recommendation for the name, whose stock has been part of the bank’s hedging for years. For analysts, WEG has one of the best value creation stories within the Brazilian stock market.

“Fundamentals are stronger than ever, reflecting its impressive delivery during the pandemic and reinforcing its crisis-proof business model,” said Lucas Marquiori, Fernanda Recchia and Aline Gil, BTG analysts who signed the report released this Monday.

The rating change caused WEG shares to soar by more than 5% yesterday. This Tuesday, the paper hit a new consistent high of 4.98%, still under the influence of the update of the digital bank report.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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