RZAG11 Dividends — income history

When does RZAG11 pay the next dividend?

• 2026-09 — Decision on Uniggel Reorganization: Grupo Uniggel's court-supervised reorganization filing has not yet been approved. A decision is expected in 3-6 months. If favorable with a payment plan, the manager may resume recognizing revenue from the R$ 52.75M in t
• 2026-12 — Selic projected to fall to 11% in 12 months: BCB Focus survey projects Selic at 11.0% in Dec/26 (vs. 14.5% currently). CDI+4.79% revenue declines linearly: sustainable DPU projected for 1H/2027 = R$ 0.105-0.110.
• 2026-06 — Maturities of R$ 53M in short-term CRAs (Horita, Pugliesi, Ubere, Agrogar, short-term Uniggel): 5 CRAs mature between Mar/26 and Nov/26: short-term Uniggel (R$ 10M, Mar/26), Agrogar (R$ 15M, Mar/26), Grupo Richart (R$ 10M, Sep/26), short-term KPS (R$ 10M, Nov/26), Horita (R$ 11M, Nov/26), and Ubere (R$ 8.8M, Sep/26

Income analysis

Recurring DPU of R$ 0.12 supported by the CDI+4.79% carry. May rise to R$ 0.125 in months with no retention and feature 1 annual extra distribution (pattern observed in Dec/25).

Are the dividends sustainable?

RZAG11 operates with a 100% payout — the fund distributes exactly what it generates, without burning through reserves. In Feb/26, the manager confirmed: 'the fund's earnings for the month were R$ 0.1199 per unit, while the distribution reached R$ 0.1200 — consuming R$ 0.0001 per unit from accumulated earnings'. A DPU of R$ 0.12 is sustainable while Selic ≥ 13%. In a Focus scenario (Selic at 11% in 12m), sustainable DPU would drop to ~R$ 0.105-0.110.

Distribution guidance

For 2026 — R$ 0.12 recurring monthly DPU + one-off extras in 2H, the manager projects a distribution of R$ 0.115 to R$ 0.125 per unit per month.

Dividend yield projection

Current DY (12m): 16.97% · Projected DY: 14.83% · reference price R$ 8.31

Will RZAG11 keep the dividend?

Net cash dropped from R$ 25.5M (Dec/25) to R$ 5.96M (Mar/26) following the extra distribution, returning to an operational equilibrium regime in 2026.

12-month average payout of 1.011% · accumulated cash covers about 59.6 months of distributions · burn of R$ 0.0015 per unit per month.

RZAG11 dividends in 2026

In 2026 RZAG11 paid R$ 0.84 per unit across 7 periods, averaging R$ 0.12 per month.

RZAG11 dividends in 2025

In 2025 RZAG11 paid R$ 1.51 per unit across 12 periods, averaging R$ 0.13 per month.

RZAG11 dividends in 2024

In 2024 RZAG11 paid R$ 1.29 per unit across 12 periods, averaging R$ 0.11 per month.

RZAG11 dividends in 2023

In 2023 RZAG11 paid R$ 1.48 per unit across 12 periods, averaging R$ 0.12 per month.

RZAG11 dividends in 2022

In 2022 RZAG11 paid R$ 1.48 per unit across 12 periods, averaging R$ 0.12 per month.

RZAG11 dividends in 2021

In 2021 RZAG11 paid R$ 0.15 per unit across 2 periods, averaging R$ 0.08 per month.

Payout by half-year

Frequently asked questions

What was RZAG11's latest dividend?

The latest income announced by RZAG11 was R$ 0.125 per unit, paid on 2026-08-14.

Does RZAG11 pay monthly dividends?

Yes, RZAG11 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 RZAG11's dividend yield (DY)?

RZAG11's dividend yield is approximately 16.79% based on the income paid over the last 12 months.

Is RZAG11 high yield?

With a DY near 16.79% per year, RZAG11 is in the high yield REIT range (above ~10% p.a.) — a level that usually comes with more credit or market risk.