Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 1

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 8
Chunk 1
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ITEM 8. FINANCIAL INFORMATION

A. Consolidated Statements and Other Financial Information

Dividends and Dividend Policy

The payment of dividends is within the discretion of our board of directors at such times. Accordingly, if we decide to pay dividends, the form, frequency and the amount of any distributions will depend on many factors such as our results of operations, financial condition, cash requirements, prospects and other factors deemed relevant by our board of directors and, where applicable, our shareholders. See “ Item 3. Key Information - D. Risk Factors - Certain Factors Relating to Our Class A Common Shares - We intend to pay dividends to holders of our common shares but our ability to do so is subject to our results of operations, distributable reserves and solvency requirements; we are not required to pay dividends on our common shares and holders of our common shares have no recourse if dividends are not paid.” For further information on dividends, see “ Item 10. Additional Information - B. Memorandum and Articles of Association - Dividends and Capitalization of Profits.”

In the years ended December 31, 2024, 2023 and 2022, dividends paid to our shareholders were US$132.4 million, US$145.1 million and US$103.3 million, respectively. Prior to our IPO, dividends were paid on a disproportional basis using a predetermined formula that considers adjusted net income and other adjustments agreed to by the shareholders in the Shareholders’ Agreement valid at that time. For the period ended December 31, 2023 and 2024, dividends were declared and paid to shareholders on a pro rata basis. See “ Item 7. Major Shareholders and Related Party Transactions - B. Related Party Transactions - Shareholders’ Agreement.”

A cash dividend of US$0.15 per share for the quarter ended December 31, 2024, was declared by the Board to record holders of our common shares at the close of business on February 25, 2025. The dividend to the total value of US$23.6 million was paid on March 17, 2025.

In 2024, we implemented several important changes to our dividend capital management policy to enhance our capital flexibility with which to fund our growth, including acquisitions, and long-term shareholder returns. Starting with the second quarter of 2024 dividend, we transitioned from a variable quarterly dividend policy of 85% of Distributable Earnings to a fixed quarterly dividend of U$