Regarding the fault the delinquency, it is important to say that digital channels have helped collection, they reached 65%. Every quarter we show that pics. Although this was deployed only two years ago, it already accounts for 21.8% of our collection. In addition, our farm is an indicator that shows how much of the revenue we actually can collect. It is very important it is the receivables collection index. It is important to show how we are collecting, we are delivering every year and indicator close to 100% showing the effectiveness of our initiatives to improve collection. As mentioned before OpEx and EBITDA have two regulatory limits that we now comply with. Regarding OpEx which is my coverage in my tariff compared to what was realized we are below the coverage in 0.7% and EBITDA 3.8%, showing our commitment, our investment in our capital allocation.
So we won’t have any capital outlay due to non-compliance to regulatory thresholds. Now speaking about some CEMIG GT results. You have to remember that part of the trading activity of CEMIG GT’s part of CEMIG Holdings. But there is a part of the trading activity, which is under CEMIG GT. In 2023, as we communicated to you was surprising for the trading activity given our strategy to sell power which started in 2021. When I compare Q4 ‘23, with Q4 ‘22, recurring EBITDA net of the sale of Retiro Baixo and Baguari, EBITDA grew 37.7%, and net income grew 58.9% at CEMIG GT. Gasmig, Gasmig is a company that we consolidated. It is a natural gas distributing company in the state of Minas. When I look at 2023, over 2022, we posted an EBITDA growth of 21.9%.
Part of this EBITDA increase is explained by the tariff review when partly by the offsetting portion, which was added in the quarters of 2023. But in Q4, there was no balance of this offsetting portion and that’s why we see a negative reduction of 25.3. It is important to remember that we are investing not only in distribution transmission generation in the state of Minas but also Gasmig is building a pipeline in the Midwest region, an investment estimated at BRL800 million after spending many, many years without investing in its concession area. To end we like to show this slide it, it reinforces what we have been promising to the market and what we have been delivering. While we have achieved what is in progress, and the challenges and opportunities, I’d like to draw your attention to challenges and opportunities investments in floating distributed generation.
We’ve shared this with you in the renewal of a generation concession [Indiscernible] say in ‘26. And another one in 2027. We have shown interest in renewing those concessions and these two commitments remain in our agenda. Now. We will begin the Q&A session. Thank you very much.
A – Reynaldo Passanezi Filho: We will now begin the Q&A session. Please ask all of your questions at once and hold for the company’s answers. [Operator Instructions]. I was looking at the questions here in the chat. And I see that there are many questions around three areas divestment, federalization and dividends. So I’ll make a general comment. And then Leo, and the other officers can add to my comments. Regarding divestment. I think that Leo has already spoken about this during the presentation. We have divested from the assets with more complexity. Those divestments that would have entailed expenses to us. They would have required a lot of capital injection, and that has a big effect. If we add the resources that we received the avoided cost from having to participate in capital, injections plus tax credits, we’re talking about BRL9 billion coming from these divestments of these assets, as we mentioned.
Now, obviously, the main divestment portion has been carried out. We still have some divestments to make. And this is public information. And the rationale is always very simple. We divest where we believe there’s a third party that can operate better than us, given our characteristics. So we had a lot of SHPPs, but there are still some small hydropower plants. And we sold them at a very good premium, which shows that a third party can use these assets better than we can. And we have some divestments, such as Aliança, Taesa, Belo Monte. But of course, these are complex, slow processes. But they’re part of our plan. I should say that this is all I have to say about divestment. What else? About federalization? I’d say that this is a theme of for our shareholders.
We have very little to say about this. Except what is public knowledge? What’s in the media, in the press? And we are waiting for a reply from the Ministry of Finance regarding the proposal that has been negotiated. We don’t have anything to comment on that. We are working businesses usual seeking the best earnings and results for the company. Because this is our role, regardless of who is the controlling shareholder. Regarding dividends, many questions about dividend payout terms. And my comment is all divestment program will lead to capital gains. And this capital gain will be distributed 50% of our result, actually, it’s more than 50% because it’s 50% of the result of plus the interest on equity benefits. So in practice, we have a dividend payout greater than 50%.
It’s 50% of the result, plus the tax cost of interest on equity. So we understand that this is quite a reasonable number, way higher than the law. The law requires a minimum dividend payout at 25%. So actually, it’s a lot more than 50. Again, 50% plus interest on equity. And I believe that you need to know that, we are now reviewing the capital structure of the company. And we are investing a lot. So again, we are exiting some sectors but we are entering new sectors. We saw a record investment plan that we had in 2023 and 80% were invested in regulated business distribution natural gas transmission. So, our expectations are then yes, we are creating profitability for the company in two ways when we remunerate shareholders with a cash outlay, and also when we invest in create value for the company.
