Holding Itaúsa will sell more XP shares this year, in line with last year’s strategy when it reduced its stake in the financial group to raise additional capital, said the company’s chief executive, Alfredo Setubal, on Tuesday (15).
In 2021, Itaúsa sold a 1.39% stake in XP, raising BRL 1.2 billion, whose funds were allocated to the holding’s shareholders through the distribution of interest on equity, according to information in the company’s balance sheet. released the night before.
After the sale, Itaúsa now holds 13.67% of XP.
“Throughout this year we should make new sales of XP shares to maximize results and reduce as much as possible the taxes we have to pay”, said Setubal during a conference with analysts and investors about the holding company’s results in the fourth quarter.
“And we will also be able to slightly replace the cash that we are using now to cover the investment in Alpargatas, which we estimate at around R$900 million”, added the president of Itaúsa.
Asked about the group’s strategy in the coming years, Setubal said that Itaúsa’s indebtedness is low and that the company remains attentive to opportunities for mergers and acquisitions, but reinforced the group’s interest outside the financial sector, something that includes renewable energy and energy concessions. infrastructure.
These opportunities can be captured with proceeds from the sale of XP shares “or through debt”, said Setubal.
“We understand that we can go to much higher levels of indebtedness,” said the executive. Itaúsa ended 2021 with adjusted net debt of R$3.79 billion.
The proceeds from the sale of XP’s shares may also be used to pay dividends to the company’s investors and even to the holding’s share buyback program, said the president of Itaúsa.
Regarding the dividends planned for this year, Setubal stated that it is likely that Itaú Unibanco will pay the mandatory minimum percentage of 25% of profit this year.
With this, “the expectation is that the dividend of Itaúsa will not have (in 2022) the strength that it had in previous years”, said the executive.
He recalled, however, that in 2021, Itaúsa distributed R$800 million more of its results in relation to what Itaú paid in returns to the holding company.
Setubal also stated that the dividend yield of Itaúsa’s shareholders “probably will not” come close to the 12% projected for Selic this year, but “it will certainly be a higher dividend yield than we had in relation to the 2021 results”.
Source: CNN Brasil
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