Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated February 25, 2010, reports a material event regarding the Board of Directors' session held on February 24, 2010. The filing pertains to the approval of the Annual Report and audited consolidated financial statements for the fiscal year ended December 31, 2009. The Board also set the agenda for the Annual General Meeting of Shareholders scheduled for March 26, 2010.
Key Financial Metrics
- Total Net Income (2009): US$ 469,783,213.77
- Retained Earnings: US$ 22,271,480.60
- Total Distributable Amount: US$ 492,054,694.37
- Outstanding Shares: 94,382,317
- Dividend Declaration: US$ 160,449,938.90 total (US$ 1.70 per share)
- Dividend Payment Date: May 11, 2010
- Record Date: April 16, 2010
The filing text does not provide specific values for revenue, operating margins, cash flow, debt levels, or liquidity ratios beyond the net income and dividend figures.
Material Changes and Corporate Actions
The primary material event is the unanimous Board approval of a cash dividend totaling approximately US$ 160.4 million. Additionally, the Board approved the appointment of Medina, Zaldívar, Paredes y Asociados (Ernst & Young Global) as external auditors for the 2010 fiscal year.
Outlook, Risks, and Management Commentary
Management commentary is limited to the formal approval of the 2009 financial results and the dividend distribution in accordance with the Company's Bye-laws. The filing does not contain specific forward-looking guidance, risk factors, or discussion of contingencies for the upcoming period.
Key Facts for Investor Verification
- Verify the record date of April 16, 2010, to ensure eligibility for the US$ 1.70 per share dividend.
- Confirm the payment date of May 11, 2010, for dividend receipt.
- Review the full 2009 Annual Report and audited financial statements enclosed with the filing for detailed revenue and expense breakdowns not present in this summary.
- Note the quorum contingency: if the March 26, 2010 meeting lacks a quorum, it will be rescheduled for April 2, 2010.