Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) was submitted on November 20, 2009, for the month of November 2009. The filing announces a proposal by the Board of Executive Officers to pay Complementary Interest on Own Capital to shareholders, subject to approval by the Board of Directors on December 4, 2009.
Key Financial Metrics and Capital Distribution
The filing focuses on shareholder returns rather than operational financial metrics such as revenue or profit. Key distribution figures for the 2009 fiscal year include:
- Proposed Complementary Interest: R$1,632,000,000.00 total.
- Per Share Amounts (Gross): R$0.499755537 per common share and R$0.549731091 per preferred share.
- Net Payment Amounts: R$0.424792206 per common share and R$0.467271427 per preferred share (net of 15% withholding tax for eligible shareholders).
- Total 2009 Distributions (Paid and Proposed): R$2,640,509,482.29.
- Comparison to Monthly Dividends: The proposed Complementary Interest represents approximately 38 times the amount of monthly dividends paid.
The filing does not provide clear values for revenue, net profit, operating cash flow, margins, debt levels, or liquidity ratios.
Material Changes and Payment Schedule
The primary material event is the declaration of a significant Complementary Interest payment. The payment schedule is as follows:
- Record Date: December 4, 2009.
- Ex-Right Date: December 7, 2009.
- Payment Date: March 9, 2010.
Monthly dividends for December 2009 and January 2010 are also noted as pending payment, totaling R$85,122,732.82.
Outlook, Risks, and Management Commentary
Management indicated that the company may distribute new Interest and/or Dividends based on the final results determined at the end of the 2009 fiscal year. The filing includes a standard forward-looking statements disclaimer, noting that future results depend on economic conditions, industry trends, and operating factors, and there is no guarantee that expected events will occur.
Investor Verification Checklist
- Confirm the final approval of the Complementary Interest by the Board of Directors on December 4, 2009.
- Verify the final 2009 fiscal year results to assess the potential for additional distributions.
- Check the actual payment execution on March 9, 2010, and confirm tax withholding status for specific shareholder categories.
- Review the full 2009 annual report (Form 20-F) for comprehensive revenue, profit, and liquidity data not included in this filing.