Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) reports a material fact regarding the minutes of Special Meeting #1,995 of the Board of Directors, held on December 21, 2012. The filing pertains to the fiscal year ending December 31, 2012, and focuses on shareholder distributions rather than operational performance metrics.
Key Financial Metrics
The filing details specific shareholder distribution amounts approved for the 2012 fiscal year. It does not provide data on revenue, net profit, operating cash flow, margins, debt levels, or liquidity ratios.
- Total 2012 Distributions: R$3,628,514,903.10
- Complementary Interest Approved: R$2,054,400,000.00
- Per Share Distribution (Common): R$0.905259770 total for 2012
- Per Share Distribution (Preferred): R$0.995785747 total for 2012
- Withholding Tax: 15% (applied to net payments for most shareholders)
Material Changes and Distribution Breakdown
The Board approved a significant Complementary Interest on Shareholders' Equity, representing approximately 27.2 times the amount of the monthly interest paid. The total distribution for 2012 is composed of the following:
| Component | Amount (R$) |
|---|---|
| Monthly Dividends (Feb–July 2012) | 367,207,430.76 |
| Intermediary Interest (1st Half) | 754,349,149.12 |
| Monthly Interest (Aug–Dec 2012) | 377,134,713.96 |
| December Interest (Payable Jan 2013) | 75,423,609.26 |
| Complementary Interest (Payable Mar 2013) | 2,054,400,000.00 |
| Total | 3,628,514,903.10 |
Guidance, Outlook, and Management Commentary
The Board authorized the payment of the Complementary Interest on March 7, 2013. Shares will trade "ex-right" starting December 26, 2012. The filing notes that these interest distributions will be computed net of withholding tax and included in the calculation of mandatory dividends for the fiscal year as per the Company's Bylaws. Management indicated that the Company may distribute additional interest and/or dividends based on the final results determined at the end of the 2012 fiscal year.
Investor Verification Checklist
- Verify the record date for the Complementary Interest (December 21, 2012) and the ex-right date (December 26, 2012).
- Confirm the payment date for the Complementary Interest (March 7, 2013) and the net amounts per share after the 15% withholding tax.
- Check for any subsequent filings regarding the final 2012 fiscal year results to determine if additional mandatory dividends are declared.
- Note that the filing does not contain standard financial performance metrics (revenue, earnings, debt) which should be sought in the annual Form 20-F.