SAO PAULO, Brazil, Feb. 22 /PRNewswire-FirstCall/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp (NYSE: SBS; Bovespa: SBSP3), one of the largest water and sewage service provider in the world based on the number of customers, announced that the Company's Board of Directors approved the Full Executive Board proposal, after hearing the Fiscal Council, pursuant to Article 37, paragraph 2 of its Bylaws, the declaration of payment of dividends in the form of interest on own capital, referring to the period from October to December 2007 to shareholders of record on February 27, 2008.
The dividends as interest on own capital, totaling R$31,897,127.22 corresponding to R$ 0.14 per common share, will be paid no later than 60 days after the 2008 Annual Shareholders' Meeting.
Income tax shall be withheld from payment of dividends as interest on own capital, pursuant to the laws in vigor, except for the immune or exempt shareholders proving such condition until March 31, 2008, and providing the corresponding documents, which shall be sent to the Company's headquarters.
Referring to the entities of Supplementary Private Pension, Insurance Companies and Fapi, such proof shall occur by means of Declaration, a model of which is available at the Investors Area, in the item Information to Shareholders on the website http://www.sabesp.com.br/ .
Said interest on own capital will be declared and computed in the calculation of the mandatory minimum dividends, as provided in Article 37, Paragraph 2 of the Company's Bylaws and in Article 9, paragraph 7 of the Law 9249/95.
The shares now are traded ex-interest from February 28, 2008.
Further information may be obtained at any of Banco Itau S.A.'s branches, which are specialized in assisting shareholders, during banking hours.
The full version of the release is available at the Company's website
IR Contact:
Mario Arruda Sampaio
Ph.: 5511 3388-8664
e-mail:
