This excerpt taken from the PBR 6-K filed Aug 25, 2005.
DISTRIBUTION OF INTEREST ON SHAREHOLDERS EQUITY
On June 17, 2005, our Board of Directors approved the distribution of interest on shareholders equity to shareholders in the amount of U.S.$ 933 million, as provided for in article 9 of Law No. 9,249/95 and Decrees No. 2,673/98 and No. 3,381/00.
This amount will be made available to shareholders up to January 31, 2006, based on their shareholdings at June 30, 2005, corresponding to U.S.$ 0.85 per common and preferred share. This amount will be discounted from the dividends that will be determined based on adjusted net income for 2005, and monetarily adjusted by reference to the Selic variation if paid before December 31, 2006, from the date of actual payment through to the end of said year. If paid in 2005, the amount to be distributed will be monetarily adjusted based on the Selic variation as from December 31, 2005 to the date of beginning of payment.