Afya (Nasdaq: AFYA) sets R$307.4M dividend, plans 50% 2025 earnings payout

Rhea-AI Filing Summary

Afya Limited reported that its board approved a cash dividend of R$307.4 million, equal to 40% of consolidated net income for the year ended December 31, 2025. The dividend equals R$3.446838 per share and will be paid in U.S. dollars on April 6, 2026 to shareholders of record as of March 25, 2025, using the PTAX exchange rate published on March 13, 2026. Management stated that, together with its share repurchase program, Afya expects to distribute 50% of 2025 consolidated net income, highlighting a strong focus on shareholder returns.

Positive

• Large cash dividend based on strong earnings: Afya approved a R$307.4 million dividend, equal to 40% of consolidated net income for 2025, signaling robust profitability and capacity to return cash.
• Clear, sizable payout commitment: Management expects to distribute 50% of 2025 consolidated net income through dividends and share repurchases, reinforcing a shareholder-focused capital allocation approach.

Negative

• None.

Insights

Equity income & capital allocation analyst

Afya pairs a sizable cash dividend with ongoing buybacks, signaling strong cash generation and shareholder-return focus.

Afya’s board approved a cash dividend of R$307.4 million, representing 40% of consolidated net income for the year ended December 31, 2025. The per-share amount is R$3.446838, payable in U.S. dollars, indicating solid earnings and available cash.

The company also notes that about 60% of its current share repurchase authorization remains available until December 2026. Management expects dividends plus buybacks to return 50% of 2025 net income, which points to a shareholder-friendly capital allocation framework while still relying on continued earnings strength.

Investors can later compare this planned 50% payout with actual distributions and repurchase execution disclosed in future Afya filings for the year following 2025, to assess consistency between stated policy and realized cash returns.

UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2026

 Commission File Number: 001-38992

Afya Limited

(Exact name of registrant as specified in its charter)

Rua Paraíba, No. 330, 17º Andar, CEP 30130-917

Bairro Funcionários, Belo Horizonte, Minas Gerais

Brazil

+55 (31) 3515 7550

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F X Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes No X

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes No X

TABLE OF CONTENTS

EXHIBIT
99.1	AFYA LIMITED ANNOUNCES DIVIDEND DISTRIBUTION OF R$307.4 MILLION

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			Afya Limited
			By:	/s/ Virgilio Deloy Capobianco Gibbon
				Name:	Virgilio Deloy Capobianco Gibbon
				Title:	Chief Executive Officer

Date: March 12, 2026

AFYA LIMITED ANNOUNCES DIVIDEND DISTRIBUTION OF R$307.4 MILLION

Belo Horizonte, Brazil, March 12, 2026 – Afya Limited (Nasdaq: AFYA; B3: A2FY34) ("Afya" or the "Company"), the leading medical education group and medical practice solutions provider in Brazil, announced that its board of directors (the “Board”) approved its second distribution of a cash dividend.

On March 12, 2026, the Company’s Board of Directors approved dividend distribution in the amount of R$307.4 million, representing 40% of the Company’s consolidated net income for the year ended December 31, 2025 and a dividend per share of R$3.446838, payable in U.S. dollars on April 6, 2026, to the shareholders on record as of the close of business on March 25, 2025. The payment will be made at the exchange rate (PTAX) to be published by the Brazilian Central Bank on March 13, 2026.

“This dividend declaration reflects our disciplined approach to capital allocation and the strength of our capital structure,” said Luis Blanco, Afya’s CFO. “We also continue to execute our share repurchase program, with approximately 60% of the current authorized buyback program remaining available for execution until December 2026. Combined with dividends, we expect to distribute 50% of the Company’s consolidated net income for the year ended 2025, reinforcing our commitment to shareholder returns. We remain confident in our long-term growth and value creation strategy and maintaining our growth guidance".

About Afya Limited (Nasdaq: AFYA, B3: A2FY34)

Afya is a leading medical education group in Brazil based on the number of medical school seats, delivering an end-to-end physician-centric ecosystem that serves and empowers students and physicians to transform their ambitions into rewarding lifelong experiences from the moment they join us as medical students through their medical residency preparation, graduation program, continuing medical education activities and offering medical practice solutions to help doctors enhance their healthcare services through their whole career.

Investor Relations Contact:

Afya Limited

ir@afya.com.br

Source: Afya Limited

FAQ

What dividend did Afya (AFYA) announce for 2025 earnings?

Afya announced a cash dividend of R$307.4 million, equal to 40% of its consolidated net income for the year ended December 31, 2025. This corresponds to a dividend per share of R$3.446838, to be paid in U.S. dollars.

When will Afya’s R$307.4 million dividend be paid and in what currency?

Afya’s dividend will be paid on April 6, 2026 in U.S. dollars. The payment will use the PTAX exchange rate published by the Brazilian Central Bank on March 13, 2026, converting the R$3.446838 per-share amount.

Who is eligible to receive Afya’s announced dividend?

Shareholders of Afya on record as of the close of business on March 25, 2025 will be entitled to receive the dividend. Eligibility is determined by being a registered shareholder on that specified record date for the approved distribution.

What payout ratio does Afya target for 2025 with dividends and buybacks?

Afya expects to distribute 50% of its 2025 consolidated net income through a combination of dividends and share repurchases. This target reflects management’s stated commitment to returning a substantial share of annual earnings to shareholders.

How much of Afya’s current share repurchase program remains available?

Afya’s CFO stated that approximately 60% of the current authorized share repurchase program remains available for execution. This repurchase capacity is authorized through December 2026, complementing the company’s cash dividend distributions.

What does Afya’s dividend decision indicate about its capital structure?

Management said the dividend reflects a disciplined approach to capital allocation and the strength of Afya’s capital structure. The company believes it can both fund growth and return significant cash, while maintaining confidence in its long-term strategy.

Filing Exhibits & Attachments

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