Tenda’s dividend payments and share buyback programs are part of the Company’s efforts to maximize value to its shareholders, seeking to increase the efficiency of its capital structure.
In line with the long-term objective of maintaining leverage close to 0%, accepting that this leverage indicator fluctuates between the upper limit of up to 10% and the lower limit of up to 10% negative, the Board of Directors may deliberate quarterly on the distribution of earnings, as required by law.
The Company may use the shares to be held in treasury, cancellation and/or to meet the obligations of stock option plans and share-based compensation plans for executives and directors.
Stock Buyback Program
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