Business Context and Reporting Period
This Form 6-K filing by TELEFONICA BRASIL S.A. reports on the minutes of the 522nd Meeting of the Board of Directors held on April 15, 2026. The filing covers corporate governance actions taken during the month of April 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$365,000,000.00
- Interest on Capital (IoC) Net Amount: R$301,125,000.00 (after 17.5% withholding tax)
- IoC Per Share (Gross): R$0.11421932485
- IoC Per Share (Net): R$0.09423094300
- Reference Balance Sheet Date: March 31, 2026
Note: The filing text does not provide clear values for total revenue, net profit, operating cash flow, margins, debt levels, 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 March 31, 2026 balance sheet. The filing notes that the per-share value is subject to change due to the Company's active Share Buyback Program, with the final calculation dependent on the shareholding position as of April 27, 2026.
Guidance, Outlook, and Management Commentary
Payment and Allocation:
- Record Date: April 27, 2026 (Shares trade "ex-IoC" after this date).
- Payment Date: On or before April 30, 2027.
- Dividend Treatment: The net IoC amount will be allocated toward the mandatory minimum dividend for the fiscal year ending December 31, 2026. Final approval of the dividend remains subject to the Ordinary General Meeting in 2027.
Risks and Contingencies:
- Tax rates applied are based on a standard 17.5% rate but may vary due to international treaties, tax immunities, exemptions, or privileged tax regimes.
- The exact payment date within the April 30, 2027 deadline is at the discretion of Management.
Investor Verification Checklist
- Verify the final share count on April 27, 2026, to confirm the exact per-share IoC value given the active Share Buyback Program.
- Confirm the final tax rate applied to the distribution, as it may differ from the standard 17.5% based on shareholder residency or treaties.
- Monitor the Ordinary General Meeting in 2027 for the formal ratification of the mandatory minimum dividend for the 2026 fiscal year.
- Check for subsequent filings regarding the exact payment date set by Management prior to April 30, 2027.