Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated February 28, 2018, reports a material event regarding the Board of Directors' session held on that date. The filing addresses the approval of the Annual Report and audited consolidated financial statements for the fiscal year ended December 31, 2017, which are scheduled for shareholder approval at the Annual General Meeting on March 28, 2018.
Key Financial Metrics
- Net Income (2017): S/4,091,752,589.79 (Peruvian Soles).
- Accumulated Earnings (prior years as of Dec 31, 2017): S/179,507,096.43.
- Outstanding Shares: 94,382,317.
- Dividend Declaration: Total cash dividend of S/1,337,642,825.91, equivalent to S/14.1726 per share.
- Reserve Transfers: S/1,000,000,000.00 to restricted special reserves and S/1,854,953,909.81 to special reserves.
Note: The filing text does not provide specific values for revenue, operating margins, cash flow, debt levels, or liquidity ratios.
Material Changes and Corporate Actions
The primary material change is the declaration of a cash dividend for the 2017 fiscal year. The Board also approved the transfer of significant earnings to restricted and special reserves. Additionally, the Board unanimously recommended the reappointment of Gaveglio, Aparicio y Asociados (PricewaterhouseCoopers Peru) as independent external auditors for 2018.
Guidance, Outlook, and Payment Details
The filing does not contain forward-looking guidance or management commentary on future performance. Key details regarding the dividend distribution include:
- Record Date: April 18, 2018.
- Payment Date: May 11, 2018.
- Currency: Dividends will be paid in US Dollars using the weighted exchange rate registered by the Superintendency of Banks, Insurance and Pension Funds on May 9, 2018.
- Tax Status: No withholding tax at source.
Investor Verification Checklist
- Verify the exact US Dollar dividend amount per share once the exchange rate is fixed on May 9, 2018.
- Confirm the final approval of the 2017 financial statements and auditor reappointment at the Annual General Meeting on March 28, 2018.
- Review the full 2017 Annual Report for detailed revenue, margin, and debt metrics not included in this summary.
- Check the status of the restricted special reserves (totaling S/1,933,616,860.31) and regulatory requirements for their use.