JSAF11 Dividends — income history

When does JSAF11 pay the next dividend?

• 2026-06 — Realization of extraordinary gains mapped for H1/2026: In the October/25 management report, management indicated: 'there are already assets with extraordinary generation mapped for the first half of 2026'. If materialized, this may allow for a one-off DPU above R$ 0.080 (upp
• 2026-12 — Possible increase to R$ 0.085 with a drop in Selic: If Selic drops to 12-13% by December/26 (milder Focus economic survey scenario), the invested FIIs may appreciate and generate realized capital gains, allowing a gradual return to the R$ 0.085 level — without returning t
• 2026-08 — Risk of renewed pressure on DPU: Tight reserves at R$ 0.020/unit. If Selic holds at 14.75% and corporate office buildings (FPAB + RCRB + BROF = 14% of the portfolio) face vacancy pressure, recurring earnings could drop below R$ 0.080 and force a new adj

JSAF11 dividend summary

• Histórico: 4,5 anos
• First DPU: Out/2021
• Peak (until Sep/25): R$ 0,091
• Current recurring: R$ 0,080
• Tendência: Stable (post-cut)

Income analysis

DPU has already settled into the new regime (R$ 0.080). The next positive catalyst is the extraordinary gains mapped for H1/26; the negative catalyst is vacancy in FPAB or RCRB. Official band: R$ 0.075-0.095.

Are the dividends sustainable?

The current DPU of R$ 0.080 is sustainable in the short term — average monthly earnings (R$ 6.1-6.7M) cover the distribution (R$ 6.2M) with minimal slack. But reserves are tight (R$ 0.020/unit). In Mar/26, there was already a month with a > 100% payout that ate into reserves. This is not a locked-DPU fund — it is a fund whose DPU fluctuates with the market, and the guidance band (R$ 0.075-0.095) represents the actual operating range.

Distribution guidance

For Next 6 months (May-Oct/26) — official Safra Asset guidance, the manager projects a distribution of R$ 0.075 to R$ 0.095 per unit per month.

Dividend yield projection

Current DY (12m): 12.78% · Projected DY: 12.5% · reference price R$ 6.79

Will JSAF11 keep the dividend?

Stabilized at R$ 0.080. Guidance R$ 0.075-0.095. The next inflection depends on Selic and the performance of the invested FIIs.

12-month average payout of 0.99% · burn of R$ 0 per unit per month.

JSAF11 dividends in 2026

In 2026 JSAF11 paid R$ 0.56 per unit across 7 periods, averaging R$ 0.08 per month.

JSAF11 dividends in 2025

In 2025 JSAF11 paid R$ 1.05 per unit across 12 periods, averaging R$ 0.09 per month.

JSAF11 dividends in 2024

In 2024 JSAF11 paid R$ 10.73 per unit across 12 periods, averaging R$ 0.89 per month.

JSAF11 dividends in 2023

In 2023 JSAF11 paid R$ 11.44 per unit across 12 periods, averaging R$ 0.95 per month.

JSAF11 dividends in 2022

In 2022 JSAF11 paid R$ 11.1 per unit across 12 periods, averaging R$ 0.93 per month.

JSAF11 dividends in 2021

In 2021 JSAF11 paid R$ 1.41 per unit across 2 periods, averaging R$ 0.71 per month.

Payout by half-year

Frequently asked questions

What was JSAF11's latest dividend?

The latest income announced by JSAF11 was R$ 0.08 per unit, paid on 2026-08-14.

Does JSAF11 pay monthly dividends?

Yes, JSAF11 distributes income to unitholders every month. The month-by-month history — with period, amount per unit, payment date and DY — is in the table above.

What is JSAF11's dividend yield (DY)?

JSAF11's dividend yield is approximately 12.79% based on the income paid over the last 12 months.

Is JSAF11 high yield?

With a DY near 12.79% per year, JSAF11 is in the high yield REIT range (above ~10% p.a.) — a level that usually comes with more credit or market risk.