Armac (ARML3) approved, on November 10, 2026, a new buyback program of up to 15,500,000 common shares, equivalent to 4.47% of the company's total shares and 9.04% of the 171,442,393 shares outstanding. The program runs for 18 months, from November 10, 2026 to May 10, 2028, and terminates the previous program, approved on July 3, 2025.
In the same announcement, Armac said it will pay, by December 30, 2026, the portion of R$ 63,608,801.56 of the interim dividends declared on December 26, 2025. For the remainder, the Board of Directors approved calling an extraordinary general meeting, which will consider extending the payment deadline for the JCP (Interest on Equity), of R$ 85,150,760.85 gross, and the balance of the dividends, of R$ 41,555,306.20. Together, they total R$ 126,706,067.05.
The company justifies the proposal by saying that Brazil's macroeconomic scenario has become more adverse than projected and that full payment in 2026 would reduce its financial prudence margin, especially given the limits of its Maximum Leverage Policy. The meeting will be held in 2026, before the end of the initial dividend payment deadline. The meeting notice and the management proposal will be released later.
Purchases will be made on the B3, at market price, through one or more of eleven financial institutions. The shares acquired may be held in treasury, canceled or sold, including for stock-based compensation plans. Armac currently has 570,761 shares in treasury. The company may use derivatives to buy shares on a forward basis.
According to the ITR (quarterly financial information) as of September 30, 2026, available funds totaled R$ 126.1 million in capital reserve and R$ 270,883,760.85 in profit reserve. The Board considers that the financial position is compatible with the program and that the company has comfortable liquidity and controlled leverage.
