Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) reports on shareholder equity distributions approved by the Board of Directors on December 11, 2023. The filing covers the fiscal year ending December 31, 2023, specifically detailing interim and supplementary interest on shareholders' equity.
Key Financial Metrics
The filing focuses exclusively on capital distributions rather than operational financial performance metrics such as revenue, profit, or cash flow.
- Total Interest on Shareholders' Equity for 2023: R$11,310,803,789.58
- Amounts Paid in 2023: R$4,120,070,187.57 (Includes monthly interest Jan-Nov and 1st semester interim interest).
- Amounts Payable in 2024: R$7,190,733,602.01 (Includes December monthly interest, 2nd semester interim interest, and supplementary interest).
- Per Share Distributions (Total 2023):
- Common Shares: R$1.012306485
- Preferred Shares: R$1.113537138
- Withholding Tax: 15% deduction applies to most shareholders, except for legal entity shareholders exempt from such taxation.
Material Changes and Distribution Details
The Board approved two specific distributions to be paid in early 2024:
- Interim Interest: R$2,000,000,000.00 total.
- Per Common Share: R$0.178997238 (Net: R$0.152147652)
- Per Preferred Share: R$0.196896962 (Net: R$0.167362418)
- Payment Date: February 1, 2024
- Supplementary Interest: R$4,998,000,000.00 total.
- Per Common Share: R$0.447314097 (Net: R$0.380216982)
- Per Preferred Share: R$0.492045507 (Net: R$0.418238681)
- Payment Date: February 28, 2024
The record date for entitlement is December 21, 2023, with shares trading "ex-right" starting December 22, 2023. The approved interest represents approximately 36 times the monthly interest paid (net of tax) and will be included in the calculation of mandatory dividends for the fiscal year.
Guidance, Outlook, and Risks
Future Distributions: The Company may distribute additional interest on shareholders' equity and/or dividends based on the final calculated results for the 2023 fiscal year.
Risks and Uncertainties: The filing includes standard forward-looking statements. Management notes that future results depend on economic conditions, industry trends, and operating factors. There is no guarantee that expected events or trends will occur, and actual results may differ materially from current expectations.
Investor Verification Checklist
- Verify the record date of December 21, 2023, to confirm eligibility for the upcoming payments.
- Confirm updated banking and tax data with the Company or B3 S.A. to ensure receipt of payments.
- Monitor the final 2023 fiscal year results for potential additional dividend declarations.
- Note that the filing does not provide revenue, net income, or liquidity ratios; these must be sourced from the Company's Form 20-F or local regulatory filings.