Business Context and Reporting Period
This Form 6-K filing by Energy Company of Minas Gerais (CEMIG) covers the month of January 2003. The report serves as a notice to shareholders regarding a Board of Directors meeting held on December 19, 2002, concerning the approval of interest on capital payments for the fiscal year 2002.
Key Financial Metrics
- Interest on Capital Payment: R$100,000,000.00 (one hundred million reais).
- Per Share Amount: R$0.616961414531193 per lot of one thousand shares.
- Withholding Tax: 15% (subject to exemptions for private pension entities).
- Ex-Dividend Date: December 30, 2002.
- Record Date: December 27, 2002.
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity for the period.
Material Changes
The primary material event is the Board's approval of the R$100 million interest on capital payment, which satisfies the minimum compulsory dividend requirement under Article 30 of CEMIG's By-laws. The trading value of shares adjusted to reflect this payment as of December 30, 2002.
Guidance, Outlook, and Risks
Management Commentary: The specific manner and date of the payment are to be defined in the Ordinary General Shareholders' Meeting scheduled for April 30, 2003.
Risks and Contingencies: The filing includes a standard disclaimer that forward-looking statements involve known and unknown risks and uncertainties, and actual results could differ materially from expressed views.
Investor Verification Checklist
- Confirm eligibility for the payment based on the December 27, 2002, record date.
- Verify the final payment date and method at the April 30, 2003, Ordinary General Shareholders' Meeting.
- Assess the impact of the 15% withholding tax on net proceeds, noting potential exemptions for private pension entities.
- Review the full fiscal year 2002 financial statements for comprehensive revenue and profit data not included in this notice.