Update: CEMIG to Reward Shareholders - Analyst Blog

Companhia Energetica de Minas Gerais ( CIG ) , also known as CEMIG, recently announced the dates for the payment of the second installment of dividend for the year 2012.

The total disbursement, amounting to R$609.1 million, will be made in two tranches and will be completed by Dec 2013. Firstly, Cemig will pay roughly R$250 million (or R$0.293201967) to shareholders on Jul 18 while the remaining amount of R$359.1 million will be distributed by the year end 2013.

For shares, holders of record as on Apr 30, 2013 will be considered eligible for dividend distribution while for ADRs, holders of record as on May 6 will be entitled.

The above distribution was approved at Cemig's Ordinary and Extraordinary General Meetings of Stockholders held on Apr 30, 2013. The first instalment of the dividend, roughly R$609.1 million, for 2012 was paid on Jun 27, 2013. Additionally, the company also paid interest on equity of R$164 million or R$0.192340491 per share.

Regarding dividends, CEMIG will disburse roughly R$609.1 million (or R$ 0.714302738 per share) to shareholders of record as on Apr 30, 2013 and ADR holders of record as on May 6, 2013.

If we look into CEMIG's first-quarter 2013 financial results, we find that the company paid approximately R$1.9 billion as interest on equity and dividends.

CEMIG is one of the largest integrated electric utilities in Brazil with approximately 97% of the company's installed generation capacity being hydroelectric power.

The Zacks Consensus Estimate for 2013 and 2014 is pegged at $1.45 per ADR and $1.33 per ADR, respectively. These represent a year-over-year decline of 40.8% for 2013 and 8.1% for 2014.

CEMIG currently has a Zacks Rank #4 (Sell). Other stocks in the industry that are worth considering are Companhia Paranaense de Energia ( ELP ), Black Hills Corporation ( BKH ) and Integrys Energy Group, Inc. ( TEG ), each carrying a Zacks Rank #1 (Strong Buy).

BLACK HILLS COR (BKH): Free Stock Analysis Report

CEMIG SA -ADR (CIG): Free Stock Analysis Report

COPEL-ADR PR B (ELP): Free Stock Analysis Report

INTEGRYS ENERGY (TEG): Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics


Latest Markets Videos


    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at

    Learn More