M. Dias Branco S.A. Indústria e Comércio de Alimentos announces an Equity Buyback for 8,472,614 shares, representing 10% of its issued share capital.
January 21, 2020 at 11:10 am
Share
M. Dias Branco S.A. Indústria e Comércio de Alimentos (BOVESPA:MDIA3) announces a share repurchase program. Under the program, the company will repurchase up to 8,472,614 common shares, representing 10% of its issued share capital. The share repurchases will be funded from overall capital and profit reserves available, except the legal reserve, unrealized profits reserve, special undistributed dividend reserve and the tax incentives reserve. The purpose of the share repurchases is to maximize the creation of value for shareholders. The shares repurchased will be to be held in treasury and subsequently canceled or sold. The program is valid till eighteen months, terminating July 21, 2021.
M Dias Branco SA Industria e Comercio de Alimentos is a Brazil-based company primarily engaged in the food processing industry. The Company focuses on industrialization, sale and distribution of food products derived from wheat, mainly biscuits, pastas, and wheat flour. Its activities also include the manufacture, sale and distribution of vegetable fats and margarines, cakes, cake mixes, packaged toasts, and snacks. The Company operates through an integrated and vertical production process, producing flour and vegetable fats used to manufacture biscuits and pastas. The Company's brand names portfolio includes Adria, Basilar, Bonsabor, Fortaleza, Isabela, Pilar, Predilleto, Richester, Salsito, Treloso, Vitarella and Zabet, among others. It owns a number of production units and distribution centers in Brazil. The Company is a subsidiary of Dibra Fundo de Investimento em Participacoes.
M. DIAS BRANCO S.A. INDÚSTRIA E COMÉRCIO DE ALIMENTOS 
