Our OpEx is lower than the regulatory limit and the EBITDA is higher than the regulatory benchmark and losses are fully covered by the tariff. And even with DG, which is an important part of our market now, DG grew 1% in our market when compared to prior year. For Cemig GT, there was a reversion of the provisions related to SHPPs and we were able to sell them too by a higher amount than the accounting value. And we have the Eurobond and by the end of the year, we want to buyback another share of those. And here we have interest on equity close to BRL1.3 billion of interest on equity declared in 2023. And as our CEO just said, this is a company that is committed to the discipline in capital allocation, is investing in profitable assets, especially in regulated areas where we have guarantee of return.
We know that this is attractive for our investors and we understand that we are a company with a dividend yield — with a dividends payoff that is one of the most attractive in the industry. You’re talking about between 8% and 9% of dividends we yield that we expect to have this year, thanks to the results of our operations. And we believe this is very attractive because this is a company with consistent results, with the right capital allocation and assets and investments that represent low risk to our investors and at the same time, paying dividends that we consider to be attractive considering the business that we work on. Now let’s talk about the results in details now. Carolina Senna will continue the presentation then.
Carolina Senna: Thank you very much, Leonardo. So moving on into each one of the businesses. Let’s start on the Cemig consolidated results in 2023. This is a clean result as a nonrecurring effect. We have the reversion of the provision in the first quarter for the sale of the SHPPs as we mentioned. So the recurring EBITDA when we analyze it, we grew 28% when compared to the same quarter in the past year and our profit was up 20%. I draw your attention to the recurring result. As our CEO mentioned, we should close the year with BRL8 billion in EBITDA. Now moving to the operating costs and expenses in the consolidated figures here. We did have a reduction in costs but PMSO was up when we look at outsourced services that was up BRL57 million.
But this is that expense that is very much related to our investment program. And the improvement that we are working on to serve our consumers. We are working with preventive maintenance, with corrective maintenance. In the average term, we are going to have a reduction in the corrective maintenance costs. But in this quarter we still have a higher pressure regarding maintenance. And also a cleaning of the transmission line pathways. This happens more in the third quarter. And it ends up pressing the amount here for our outsourced services. But we are still performing lower than the regulatory OpEx, even having these higher expenses. On the other hand, we also had an increase here for resolution 1,000. This involved a larger number of services — coverage of services here.
So when we do not meet some of these services, we have to have financial compensations for consumers. And also the deactivation of goods and because — as we invest more in the distributing company and growing our asset base, it is just natural. It’s common that we have more write-offs here. So this is our cash flow for the nine months. As we can see, and we already mentioned, this is a company that has a strong cash generation. We generated BRL6,336 million is still in this cycle. We still are reimbursing tax credits to consumers. We paid interest on equity in the middle of the year. We are still accessing capital market. Thanks to our robust investment program. We had a settlement for a SAAG put option. It was provisioned in our balance sheet.
But this was paid out then. And also we had payments and expenses with our investments programs. And we ended here with BRL4,168 million. And we still have BRL1 billion of interest on equity and dividends to be paid up to December 31st. And also moving on with our investments program. This is a slide that we share, showing our debt profile. Remember, we have that higher (ph) toll power in 2024. This is the Eurobond for Cemig GT. This is BRL1500 million to be paid starting in December of ’23. We can buyback with no penalties, no additional value. And remember, we have already had two buybacks in the past. And we are always looking for opportunities for liability management in the company and our leverage. It’s still very low, below 1 time. But this leverage, as we have already mentioned before, will go up naturally because of the new fundings and investment programs that we will have to hold.
