Brazilian power company AES Eletropaulo (ELPL6.BR) said Thursday that it will pay 322.7 million reals ($177.3 million) in dividends to investors on Sept. 24.

Holders of common shares will get BRL1.8 per share and holders of preferred shares will get BRL2.00 per share by that date.

AES Eletropaulo reported second-quarter earnings after market hours on Thursday, showing a 21.4% drop on the year to BRL154.9 million. The company cited unusually high pension and legal costs as the main culprit for the decline.

-By Kenneth Rapoza, Dow Jones Newswires, 5511-2847-4541, kenneth.rapoza@dowjones.com