Brazil's JBS Approves 2017 Financial Statements, $36 Million Dividend

Shareholders of Brazilian meat processor JBS SA approved the company’s 2017 financial statements along with dividend payments at a meeting on Monday, according to a securities filing.

The approved dividend amount will be 0.04677553 per share, totaling 126.8 million reais ($36.15 million) due on June 26, JBS said.

JBS shareholders also gave the green light to changes in the company’s bylaws to comply with recommendations from stock exchange operator B3 SA, which will come into effect in 2020.

JBS, the world’s largest meatpacking firm, also said shareholders approved the composition of its board of directors and fiscal council.

The meeting had participation of more than 85 percent of the company’s shareholders, the statement said.

($1 = 3.5073 reais)