Business Context and Reporting Period
This Form 6-K filing by Banco Santander (Brasil) S.A. relates to a corporate action announced on July 10, 2024. The document details the Board of Directors' approval of Interest on Equity (JCP) payments, subject to shareholder ratification at the Ordinary General Meeting in 2025. The filing does not cover a specific financial reporting period (e.g., Q3 2024) but rather a specific distribution event.
Key Financial Metrics
The filing focuses exclusively on capital distribution metrics rather than operational performance. Key figures include:
- Total Gross Interest on Equity: R$1,500,000,000.00 (1.5 billion Brazilian Reais).
- Total Net Interest on Equity (after IRRF): R$1,275,000,000.00 (1.275 billion Brazilian Reais).
- Per Share Distribution (Gross):
- ON (Common): R$0.19166652800
- PN (Preferred): R$0.21083318082
- Unit (1 ON + 1 PN): R$0.40249970882
- Per Share Distribution (Net):
- ON (Common): R$0.1629165488
- PN (Preferred): R$0.17920820369
- Unit (1 ON + 1 PN): R$0.34212475249
The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
No comparative financial data or material changes versus prior periods are disclosed in this document. The filing serves as a notice of a specific dividend-like distribution event.
Guidance, Outlook, and Risks
Management Commentary and Process: The distribution is funded from the Dividend Equalization Reserve. The payment is fully considered within the mandatory dividends for the 2024 fiscal year and will not be subject to monetary indexation compensation.
Key Dates:
- Record Date: July 19, 2024 (inclusive).
- Ex-Date: July 22, 2024 (inclusive).
- Payment Date: August 09, 2024.
ADRs: Payments for American Depositary Receipts (NYSE) will be handled by The Bank of New York Mellon. Specific US record dates and rules are available via the depositary bank's website.
Risks/Contingencies: The distribution is approved "ad referendum," meaning it is contingent upon final approval by the Ordinary General Meeting of shareholders to be held in 2025.
Investor Verification Checklist
- Verify the final approval of this distribution at the 2025 Ordinary General Meeting of Shareholders.
- Confirm the specific US Record Date and payment schedule for ADR holders via The Bank of New York Mellon.
- Check the company's 2024 annual report to understand the impact of this R$1.5 billion distribution on the Dividend Equalization Reserve and total mandatory dividend obligations.
- Review the company's tax status to confirm eligibility for the net amounts listed, as immune or exempt shareholders may receive different amounts.