Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on August 26, 2021, reports a material event regarding a dividend declaration by Credicorp Ltd. The filing pertains to the financial year 2020 results and the subsequent distribution decision made by the Board of Directors on August 26, 2021.
Key Financial Metrics
- Total Net Income (FY 2020): S/346,894,407.43
- Total Dividend Payout: S/471,911,585.00
- Dividend Per Share: S/5.0000
- Outstanding Shares: 94,382,317
- Payment Currency: US Dollars (converted from Peruvian Soles)
The filing text does not provide clear values for revenue, operating margins, cash flow, debt levels, or liquidity ratios beyond the net income figure cited for the dividend calculation.
Material Changes and Unusual Items
The primary material event is the approval of a cash dividend exceeding the reported net income for the 2020 financial year. The total payout of S/471.9 million is funded by the 2020 net income of S/346.9 million plus additional funds drawn from non-restricted special reserves.
Guidance, Outlook, and Management Commentary
The Board of Directors unanimously approved the distribution in accordance with the Company's Bye-Laws. No forward-looking guidance, risk factors, or management commentary regarding future performance is included in this specific filing.
Important Facts for Investors to Verify
- Payment Date: October 7, 2021
- Record Date: September 15, 2021
- Exchange Rate Mechanism: The US Dollar amount will be calculated using the weighted exchange rate registered by the Superintendency of Banks, Insurance and Pension Funds (SBS) at the close of business on October 5, 2021.
- Tax Status: The dividend is paid without withholding tax at source.
- Funding Source: Verify the composition of "non-restricted special reserves" used to supplement the dividend payout beyond the 2020 net income.