XPCA11 Dividends — income history

When does XPCA11 pay the next dividend?

• 2026-06 — Maturation of carry from recent acquisitions: Cash earnings are expected to rise from ~R$ 2.5-3M/month to ~R$ 4-5M/month once new operations are 100% in the portfolio, which may reopen space for a R$ 0.12 DPU.
• 2026-09 — Resolution of the Agrogalaxy credit issue: Uncertain impact (positive or negative) depending on the approval of the reorganization plan. Agrogalaxy's volume in the portfolio is not explicitly disclosed.
• 2026-12 — Pressure on the 2026/27 sugar-energy crop: If 1–2 sugar-energy groups request debt rescheduling or experience distress, the Agrogalaxy pattern repeats. Mitigation: long-term liability profiles and manager discipline.
• 2027-06 — Selic scenario at 11% in 12 months (Focus Report): The 12m dividend yield may drop from 16.3% to ~13% if the Selic goes to 11% and spreads hold steady. As a compensation, the unit price tends to reprice upward (P/BV converging to 0.90+).

Income analysis

Sustainable DPU at R$ 0.11/unit over a 6-to-9-month horizon, with risk of adjustment if the current cash burn does not reverse. Net cash of R$ 17.2M covers 8–9 months at the current pace. History shows that the manager cuts the DPU when necessary (Oct-Dec/2024) — there is no resistance to adjustments made to preserve the fund's soundness.

Are the dividends sustainable?

Attention: over the last 3 months (Jan-Mar/26), the fund distributed more than it generated in cash (~R$ 2M/month in cash burn). The R$ 0.11 DPU is being partially funded by reserves.

Net cash of R$ 17.2M (item 10 of the Monthly Report) covers 8–9 months of cash burn at this pace without adjusting the DPU. If recent acquisitions (UISA, Cibra, Minerva, Wehrmann) contribute to carry, the cash burn should decrease or reverse.

Cash earnings in Mar/26 have already improved (R$ 3.81M vs. R$ 2.43M in Feb) — a sign that reinvestment is flowing. The base case is maintaining the R$ 0.11 DPU over the next 6–9 months.

Distribution guidance

For next 6 months, the manager projects a distribution of R$ 0.1 to R$ 0.12 per unit per month.

Will XPCA11 keep the dividend?

Cash earnings began to recover in Mar/26 (R$ 3.81M vs. R$ 2.43M in Feb). Recent acquisitions (UISA, Cibra, Minerva) are expected to hit cash earnings in the coming months.

12-month average payout of 1.05% · accumulated cash covers about 8.6 months of distributions · burn of R$ 0.044 per unit per month.

XPCA11 dividends in 2026

In 2026 XPCA11 paid R$ 0.75 per unit across 7 periods, averaging R$ 0.11 per month.

XPCA11 dividends in 2025

In 2025 XPCA11 paid R$ 1.29 per unit across 12 periods, averaging R$ 0.11 per month.

XPCA11 dividends in 2024

In 2024 XPCA11 paid R$ 0.98 per unit across 12 periods, averaging R$ 0.08 per month.

XPCA11 dividends in 2023

In 2023 XPCA11 paid R$ 1.47 per unit across 12 periods, averaging R$ 0.12 per month.

XPCA11 dividends in 2022

In 2022 XPCA11 paid R$ 1.59 per unit across 12 periods, averaging R$ 0.13 per month.

XPCA11 dividends in 2021

In 2021 XPCA11 paid R$ 0.13 per unit across 2 periods, averaging R$ 0.07 per month.

Payout by half-year

Frequently asked questions

What was XPCA11's latest dividend?

The latest income announced by XPCA11 was R$ 0.1 per unit, paid on 2026-08-14.

Does XPCA11 pay monthly dividends?

Yes, XPCA11 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 XPCA11's dividend yield (DY)?

XPCA11's dividend yield is approximately 16.02% based on the income paid over the last 12 months.

Is XPCA11 high yield?

With a DY near 16.02% per year, XPCA11 is in the high yield REIT range (above ~10% p.a.) — a level that usually comes with more credit or market risk.