Credicorp Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, dated February 24, 2011, reports material events regarding Credicorp Ltd., a Bermuda-based financial holding company. The filing details Board of Directors actions taken on February 23, 2011, concerning the financial year ended December 31, 2010, and upcoming shareholder meetings.
Key Financial Metrics
- Net Income (2010): US$ 571,302,141.04
- Retained Earnings (2010): US$ 20,565,456.12
- Total Distributable Amount: US$ 591,867,597.16
- Outstanding Shares: 94,382,317
- Cash Dividend Declared: US$ 184,045,518.15 total (US$ 1.95 per share)
- Dividend Payment Date: May 13, 2011
- Record Date: April 19, 2011
The filing text does not provide specific values for revenue, operating margins, debt levels, or cash flow for the period.
Material Changes and Corporate Actions
The Board unanimously approved the Annual Report and audited consolidated financial statements for 2010, audited by Medina, Zaldívar, Paredes y Asociados (Ernst & Young Global). The Board also approved the appointment of Directors for a three-year term and the re-designation of the external auditors for 2011. A significant portion of the 2010 net income is being distributed as a dividend, with the remaining balance transferred to special reserves.
Outlook and Management Commentary
The Annual General Meeting of Shareholders is scheduled for March 31, 2011, to ratify the Board's decisions regarding the 2010 financial statements, director appointments, auditor selection, and the dividend distribution. The filing does not contain specific forward-looking guidance, risk factors, or commentary on future market conditions beyond the scheduled corporate governance events.
Investor Verification Checklist
- Verify the record date of April 19, 2011, to ensure eligibility for the US$ 1.95 per share dividend.
- Confirm the payment date of May 13, 2011, for cash flow planning.
- Review the full 2010 Annual Report and audited financial statements referenced in the filing for detailed revenue and expense breakdowns.
- Monitor the March 31, 2011, Annual General Meeting for shareholder ratification of the proposed dividend and director appointments.