Monthly Payment of Interest on Equity

The Company's dividend and interest-on-equity policy envisages monthly and complementary payments to shareholders. These monthly pre-payments of the minimum mandatory dividends use shareholding positions of the last day of the previous month as the calculation base, with payment being effected on the first business day of the following month.

Monthly Payment of Dividends and Interest on Equity (2009)

• In accordance with article 205 of Law 6404/76, it was established that interest on equity for 2009 would be paid on a monthly basis, benefiting shareholders registered as such on the last day of each month, with payment taking place on the first business day of the second subsequent month thereafter with the retention of 15% withholding income tax, except for corporate shareholders who can prove their exemption from said tax. Payment of interest on equity would depend on the deductibility limit of the quarterly TJLP (long-term interest rate), in line with the prevailing legislation, and the accumulated monthly total of minimum mandatory dividends of 25% of adjusted net income, pursuant to the Bank's Bylaws. In the exceptional case of January 2009, interest on equity of R$ 2.913.998,84 (two million, nine hundred thirteen thousand, nine hundred and ninity eight Reais and eight-four centavos), equivalent to the gross amount of R$ 0,019235781 per share, was paid on March 2, 2009 to shareholders registered as such on February 17, 2009;
  
  
• Based on a TJLP of 6.25% p.a., monthly interest-on-equity payments for the period between February and December, 2009, were fixed at R$ 2.913.998,84 (two million, nine hundred thirteen thousand, nine hundred and ninity eight Reais and eight-four centavos), equivalent to the gross amount of R$ 0,019235781 per share. If the TJLP were to change, interest on equity would be duly recalculated based on the new rate;
  
  
• Prepayment of six-monthly dividends: interim dividends for the six-month period ended June 30, 2009, for referral to the Annual General Meeting of 2010, deducting interest on equity, may be paid up to 60 days after being declared by the Board of Directors, without retention of withholding income tax, pursuant to article 10 of Law 9249/95;
  
  
• Mandatory annual dividends: 2009 dividends, deducting interest on equity and interim dividends, may be paid up to 60 days after the Annual General Meeting which approves the annual financial statements.
  
  

In addition:

• Any and all alterations to this payment system determined by the Board of Directors shall be disclosed immediately to the market;
  
  
  

Payment of Monthly Interest on Equity for 2009

Interest on equity for January 2009 was paid on March 2, 2009 in the total amount of R$ 2.913.998,84 (two million, nine hundred thirteen thousand, nine hundred and ninity eight Reais and eight-four centavos), equivalent to the gross amount of R$ 0,019235781 per share, to shareholders registered as such on February 17, 2009, Shares were traded ex-interest on equity as of February 17, 2009.

Based on a TJLP of 6.25% p.a., monthly interest-on-equity payments for the period between February and December, 2009, were fixed at R$ 2.913.998,84 (two million, nine hundred thirteen thousand, nine hundred and ninity eight Reais and eight-four centavos), equivalent to the gross amount of R$ 0,019235781 per share, benefiting shareholders registered as such on the last business day of each month, with payment taking place on the first business day of the second subsequent month thereafter, as in the table below:

Payment of interest on equity depends on the deductibility limit of the quarterly TJLP (long-term interest rate), in line with the prevailing legislation, and the accumulated monthly total of minimum mandatory dividends of 25% of adjusted net income, pursuant to the Bank's Bylaws, with the retention of 15% withholding income tax, except for corporate shareholders who can prove their exemption from said tax. If the TJLP changes, interest on equity is duly recalculated based on the new rate

. Interim Dividends for the First Half of 2009

Interim dividends for the first half of 2009, for referral to the Annual General Meeting of 2010, deducting interest on equity, may be paid up to 60 days after being declared by the Board of Directors, without retention of withholding income tax, pursuant to article 10 of Law 9249/95

. Mandatory 2009 Dividends

Mandatory dividends for 2009, deducting interest on equity and interim dividends, may be paid up to 60 days after the Annual General Meeting which approves the annual financial statements.

Dividends and interest on equity relative to shares held in custody by the CBLC (Brazilian Clearing and Depository Corporation) are paid to the CBLC who will pass on the payments to the shareholders via the depository brokers.

Shareholder Remuneration:

Click here to view the net amounts per share paid by Banestes in recent years.
(File in Portuguese)

Shareholder Payments:

Click here to view the net amounts per share paid by Banestes in recent years.
(File in Portuguese)