Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) covers the month of March 2004. The document serves as a formal notification to the U.S. Securities and Exchange Commission regarding the proposed payment of monthly interest on own capital to shareholders.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only specific financial data disclosed relates to the proposed interest on own capital for April 2004:
- Common Stock Interest: R$0.141180 per share (gross); R$0.120 per share (net after 15% withholding tax).
- Preferred Stock Interest: R$0.155298 per share (gross); R$0.132 per share (net after 15% withholding tax).
- Taxation: A 15% withholding income tax applies to most shareholders, with exemptions for certain legal entities.
Material Changes
The filing references a stock grouping transaction approved on December 17, 2003, at a ratio of 10,000 old shares for 1 new share. The interest amounts disclosed reflect this adjustment. No other material changes to financial position or operations are detailed in this specific document.
Guidance, Outlook, and Management Commentary
Management has proposed the payment of interest on own capital to the Board of Directors for approval at a meeting scheduled for April 1, 2004. If approved, payment is scheduled for May 3, 2004. The filing includes a standard forward-looking statements disclaimer, noting that future results depend on economic conditions, industry trends, and operating factors, and that actual results may differ materially from expectations.
Investor Verification Checklist
- Confirm the Board of Directors' approval of the interest payment at the April 1, 2004 meeting.
- Verify the record date of April 1, 2004, to determine shareholder eligibility.
- Check the actual payment date of May 3, 2004, for the net amounts specified.
- Review the impact of the 10,000-to-1 stock grouping on share counts and total payout obligations.
- Confirm tax exemption status for legal entity shareholders to determine gross vs. net receipt.