The Board of Directors of Lojas Renner S.A., at a meeting held on June 17 2014, approved the distribution and the payment of interest on equity by the Company, for the fiscal year 2014 in the total amount of R$ 17,794,633.28 (seventeen million seven hundred and nine four thousand, six hundred and thirty three reais and twenty-eight cents), corresponding to R$ 0.1412 per share. Payment shall be effected in up to 10 days after the 2015 Annual General Meeting and is subject to Income Tax Withholding (IRRF) pursuant to the prevailing legislation.
The aforesaid amount corresponding to the payment of interest on equity shall be included in the calculation of the mandatory dividend for the fiscal year 2014, pursuant to the Company's Bylaws. All the Company's shareholders holding shares as of June 17 2014, the date of the approval of the payment by the Board of Directors, shall be entitled to interest on equity in accordance with the prevailing legislation.
As from June 17 2014 (inclusive), the Company's shares shall be traded ex-interest on equity. The Company requests shareholders, companies and/or entities who are exempt from Income Tax Withholding to send the appropriate documentation to confirm this status to the Company's registered offices, in attention to the IR Officer, by June 20 2014.
The procedures and the initial date of payment of interest on equity will be disclosed by the Company Officers immediately after the Annual General Meeting that will take place in 2015.