11 de noviembre de 2016 / 15:52 / hace un año

Brazil's Estácio to pay 420 mln reais extraordinary dividend

SAO PAULO, Nov 11 (Reuters) - Estácio Participações SA , Brazil’s second-largest for-profit education firm, will pay a 420 million reais ($121 million) extraordinary dividend in three tranches, Chief Executive Officer Pedro Thompson said on Friday.

In a conference with investors to discuss third-quarter results, Thompson said two-thirds of the dividend will be paid by the end of the year. The remaining 140 million reais is conditional upon Estácio receiving payments related to the government’s Fies student loan program.

$1 = 3.4833 reais Reporting by Ana Mano; Editing by Bernadette Baum

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