Business Context and Reporting Period
This Form 6-K filing by TELEFONICA BRASIL S.A. reports on the minutes of the 527th Meeting of the Board of Directors held on June 15, 2026. The filing covers corporate governance actions taken during the month of June 2026, specifically regarding capital distribution.
Key Financial Metrics
The filing details a specific capital distribution event rather than full-period financial statements. Key figures include:
- Interest on Capital (IoC) Gross Amount: R$230,000,000.00
- Interest on Capital (IoC) Net Amount: R$189,750,000.00 (after 17.5% withholding tax)
- Gross IoC Per Share: R$0.07197382114
- Net IoC Per Share: R$0.05937840244
- Reference Balance Sheet Date: May 31, 2026
The filing text does not provide clear values for total revenue, net profit, operating cash flow, margins, total debt, or liquidity ratios for the period.
Material Changes and Corporate Actions
The primary material change reported is the unanimous Board approval to declare Interest on Capital (IoC). This distribution is based on the balance sheet as of May 31, 2026. The filing notes that the per-share value is calculated based on the shareholding position as of May 29, 2026, but may be subject to change due to the Company's active Share Buyback Program, with the final verification date set for June 26, 2026.
Guidance, Outlook, and Contingencies
Payment and Allocation:
- Record Date: June 26, 2026 (Shares trade "ex-IoC" after this date).
- Payment Date: On or before April 30, 2027.
- Dividend Allocation: The net IoC amount will be credited toward the mandatory minimum dividend for the fiscal year ending December 31, 2026.
- Final Approval: The allocation is subject to ratification ("ad referendum") by the Ordinary General Meeting to be held in 2027.
Tax Considerations: The net amount calculation assumes a standard tax rate of 17.5%, which may vary based on international treaties, tax immunities, or privileged tax regimes.
Investor Verification Checklist
- Verify the final share count on June 26, 2026 to confirm the exact per-share distribution amount, considering the impact of the Share Buyback Program.
- Confirm the final payment date for the IoC, which is to be set by Management but must occur by April 30, 2027.
- Monitor the Ordinary General Meeting in 2027 for the ratification of the IoC allocation toward the 2026 mandatory minimum dividend.
- Review the Company's full financial statements for the period ending May 31, 2026, to assess the broader financial health supporting this distribution.