Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) reports a material fact regarding shareholder distributions for the period ending December 31, 2020. The announcement, dated December 16, 2020, details the Board of Directors' approval of supplementary interest on shareholders' equity.
Key Financial Metrics
The filing focuses on capital distribution rather than operational performance metrics such as revenue, profit, or cash flow, which are not provided in this specific text.
- Total Supplementary Interest Approved: R$3,502,000,000.00
- Per Share Amounts (Gross): R$0.377521225 per common share; R$0.415273347 per preferred share.
- Per Share Amounts (Net of 15% Tax): R$0.320893041 per common share; R$0.352982345 per preferred share.
- Entitlement Date: December 28, 2020.
- Payment Date: January 7, 2021.
- Total 2020 Interest on Equity (Paid + Payable): R$5,363,950,839.32.
Material Changes and Distribution Details
The primary material change is the declaration of a significant supplementary interest payment, which represents approximately 22 times the monthly interest paid net of income tax. This amount will be included in the calculation of mandatory dividends for the fiscal year.
2020 Distribution Summary:
- Amounts Paid (Jan-Nov): R$1,701,939,989.25 (includes bonus approved March 10, 2020).
- Amounts Payable (Dec): R$160,010,850.07 (monthly interest) + R$3,502,000,000.00 (supplementary interest).
- Total Payable Subtotal: R$3,662,010,850.07.
Guidance, Outlook, and Risks
Management indicated that the Company may distribute new interest on shareholders' equity and/or dividends based on the final fiscal year 2020 results. The filing includes standard forward-looking statements, noting that future results depend on economic conditions, industry trends, and operating factors, with no guarantee that expected events will occur.
Investor Verification Checklist
- Verify the ex-rights trading date of December 29, 2020, to confirm eligibility for the supplementary interest.
- Confirm the net payment amount received, noting the 15% withholding tax deduction for individuals versus the gross amount for tax-exempt legal entities.
- Check the final 2020 fiscal year results to determine if additional dividends or interest will be declared beyond the amounts listed.
- Ensure banking and registry data are updated with the Company or B3 S.A. to facilitate payment receipt.