Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated February 27, 2020, reports a material event regarding the Board of Directors' unanimous decisions for Credicorp Ltd. The filing pertains to the approval of the 2019 annual financial results and corporate governance matters to be presented at the Annual General Meeting of Shareholders on March 27, 2020.
Key Financial Metrics
- Net Income (2019): S/4,265,303,602.96
- Dividend Declaration: S/2,831,469,510.00 total (S/30.00 per share)
- Outstanding Shares: 94,382,317
- Reserve Transfers: S/1,279,591,081.00 to restricted special reserves; S/697,499,597.67 to special reserves.
- Total Restricted Special Reserves: S/14,744,906,847.47
The filing does not provide specific values for revenue, operating margins, cash flow, debt levels, or liquidity ratios.
Material Changes and Corporate Actions
The primary material event is the declaration of a cash dividend for the 2019 fiscal year. The Board also approved the transfer of significant portions of net income to restricted and special reserves. Additionally, the Board approved the list of director candidates for the 2020–2023 term and a partial amendment to the Bye-laws regarding the number of directors.
Outlook, Risks, and Unusual Items
The filing confirms the reappointment of Gaveglio, Aparicio y Asociados (PricewaterhouseCoopers Peru) as external independent auditors for 2020. No specific forward-looking guidance, risk factors, or unusual items were disclosed in this text. The dividend payment is scheduled for May 8, 2020, to shareholders of record on April 13, 2020, with the amount converted to US Dollars based on the weighted exchange rate on May 6, 2020.
Investor Verification Checklist
- Verify the exact US Dollar dividend amount per share once the exchange rate is set on May 6, 2020.
- Confirm the record date of April 13, 2020, for dividend eligibility.
- Review the full 2019 Annual Report and audited financial statements for detailed revenue and margin analysis.
- Monitor the Annual General Meeting on March 27, 2020, for shareholder approval of the dividend, director slate, and bye-law amendments.