Notice to Shareholders - Dividends

NOTICE TO SHAREHOLDERS

São Paulo, April 30, 2015 - Even Construtora e Incorporadora S.A. - EVEN (BM&FBOVESPA: EVEN3), a builder and developer with operations in the states of São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais, focused on residential developments with units priced above R$250,000, hereby inform the Shareholders that the dividends declared by the Company at the Annual Shareholders‘ Meeting of April 30, 2015, at 10:00, totaling fifty-nine million, nine-hundred forty-seven thousand, eight hundred and seventy-five reais (R$59,947,875.00), exempt from withholding income tax, in accordance article 10 of Law 9,249/95, will be paid to the Company Shareholders on the reference date of April 30, 2015, as follows:

1. Dividends totaling R$0.262103422 per common share.

2. Instructions related to the credit of the dividends:

2.1. The dividends will be paid on May 13, 2015.
2.2. The shareholders will have their credit available based on their banking address registered with Itaú Unibanco S/A, custodian institution of the shares issued by the Company, on the payment data referred to in item 2.1 above.
2.3. For the shareholders whose records do not include the individual taxpayer ID (CPF/CNPJ) or the information on "Bank/Branch/Current Account", the dividends will only be credited as of the third business day after the date when the record is updated in the electronic files of Itaú Unibanco S/A. the record can be updated through any branch of the bank‘s network or through correspondence addressed to Unidade de Processamento e Serviços para Corporações, at Rua Ururai, nº 111, Térreo, Prédio B, Tatuapé, CEP 03084-010, in the city and state of São Paulo.

3. Services to shareholders: At the branches of Itaú Unibanco S/A authorized to render services to shareholders.

4. The Company‘s shares will be traded ex-dividends as of May 04, 2015, inclusive.

To access the file in PDF, click here.

Cordially,

Dany Muszkat
CFO and IRO

Ivan Bonfanti
IR Manager

Fernanda Brienza
IR Analyst

IR Contact:
Phone: +55 11 3377-3777
Fax: +55 11 3377-3780
E-mail:ri@even.com.br