Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) relates to a corporate action announced on December 4, 2009, regarding the fiscal year ending December 31, 2009. The filing details the Board of Directors' approval of a Complementary Interest on Own Capital payment to shareholders.
Key Financial Metrics and Capital Distribution
The filing focuses on shareholder returns rather than operational financial metrics such as revenue or net income. Key distribution figures include:
- Complementary Interest Approved: R$1,632,000,000.00 total.
- Per Share Amounts (Gross): R$0.499755537 per common share; R$0.549731091 per preferred share.
- Net Payment Amounts: R$0.424792206 per common share; R$0.467271427 per preferred share (net of 15% withholding tax).
- Total 2009 Distributions: R$2,641,087,321.46 (including monthly dividends, intermediary interest, and the new complementary interest).
- Comparison to Dividends: The approved Complementary Interest represents approximately 38 times the monthly dividends paid.
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes and Payment Schedule
The primary material change is the declaration of a significant Complementary Interest payment. Key dates include:
- Record Date: December 4, 2009.
- Ex-Right Date: December 7, 2009.
- Payment Date: March 9, 2010.
The distribution includes shares issued during a capital stock increase approved on October 29, 2009, related to the merger of Ibi Participações S.A.
Outlook, Risks, and Management Commentary
Management indicated that the distributed interest will be computed net of withholding tax in the calculation of mandatory dividends for the 2009 fiscal year. The company reserved the right to distribute new interest and/or dividends based on the final results determined at the end of the 2009 fiscal year.
The filing includes standard forward-looking statements warning that future results may differ materially from expectations due to economic conditions, industry trends, and operating factors. No specific risks or contingencies regarding the bank's operations were detailed in this specific announcement.
Investor Verification Checklist
- Verify the final 2009 fiscal year results to confirm if additional dividends or interest are declared.
- Confirm the tax status of the shareholder to determine if the 15% withholding tax applies or if the gross amount is received.
- Check the impact of the Ibi Participações S.A. merger on the total share count used for the distribution calculation.
- Review the company's Bylaws regarding the treatment of Complementary Interest in mandatory dividend calculations.