Dados B3 › Corporate actions · Português
Anyone computing returns straight from the exchange's price file reads a 50% drop that never happened: in a two-for-one bonus issue the price halves and the shareholder lost nothing. That hole produced a “−89.6% in a week” sector figure here and took our sector index offline. The fix is adjusting by event — and that is where the problem nobody publishes shows up.
| Situation | Events |
|---|---|
| no trading on the ex-date There is no price to compare against — no trades that day. Also removed from the calculation for that window. | 312 |
| confirmed against the price The declared factor explains the gap observed on the ex-date. We adjust the series and move on. | 227 |
| declared and observed DISAGREE The declared factor does not explain the observed drop. We neither apply nor ignore it: we remove that ticker for that window from return calculations. Usually a matter of notation, not a wrong factor. | 181 |
| effect smaller than the noise The multiplier is too small to distinguish from the day's normal variation. The price can neither confirm nor deny it. | 88 |
| spin-off: a different asset issued The event issues an asset different from the original — a spin-off, not a split. Adjusting by a factor does not apply. | 46 |
| found by us, not published by the exchange The share count changed in the capital filing AND the price jumped on the same date, with no declared event. Two independent sources agreeing on something the third does not record. | 43 |
Faced with a disagreement there are three ways out: apply the declared factor, ignore the event, or drop that ticker for that window. The first two produce a wrong return wearing a right face. We take the third — 493 events leave the return calculation. When the source does not allow a decision, no decision is made.
A declared factor of 99,900 against an observed gap of 11.15 is almost always different NOTATION — the ratio expressed another way — not a wrong factor. What the flag says is that the two readings disagree, which is why it is called `divergent_from_price` and not `wrong_factor`. We publish both numbers side by side and let the reader judge.
| Company | Ex-date | Declared factor | Observed gap |
|---|---|---|---|
| Banestes Sa Banco Do Estado Do Espirit | 2012-08-17 | 99,900.00 | 11.15 |
| Irani Papel E Embalagem S.A. | 2012-04-19 | 1,900.00 | 29.37 |
| Brb Banco De Brasilia Sa | 2021-01-04 | 900.00 | 4.11 |
| Panatlantica Sa | 2021-08-03 | 30.99 | 1.16 |
| Tronox Pigmentos Do Brasil S.A. | 2019-04-29 | 25.00 | 1.16 |
| Cpfl Transmissão S.A. | 2016-06-13 | 0.03 | 0.01 |
| Sansuy Sa Indústria De Plasticos | 2016-03-28 | 0.01 | 0.02 |
| Itaú Unibanco Holding S.A. | 2011-10-31 | 0.01 | 1.02 |
Examples of disagreement, with both numbers
We found them by crossing the share count in the capital filing with the price series: when both change on the same date and no event is declared, an event happened. Two independent sources agreeing on something the third does not record.
| Situation | Events |
|---|---|
| Grupamento | 349 |
| Desdobramento | 281 |
| Bonificacao | 267 |
Numbers on this page are live. Data version 2026-09-01-supressao-declarada · page generated 2026-09-08 10:40 UTC. If this does not match /saude, you are reading a cached copy.
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