Business Context and Reporting Period
This Form 6-K filing by TELEFONICA BRASIL S.A. reports on the 519th Meeting of the Board of Directors held on March 13, 2026. The document details corporate governance actions taken during the meeting, specifically regarding shareholder distributions.
Key Financial Metrics
The filing focuses on a specific capital distribution event rather than comprehensive financial statements. Key figures include:
- Interest on Capital (IoC) Gross Amount: R$200,000,000.00
- Interest on Capital (IoC) Net Amount: R$165,000,000.00 (after 17.5% income withholding tax)
- IoC Per Share (Gross): R$0.06258593142
- IoC Per Share (Net): R$0.05163339342
- Reference Balance Sheet Date: February 28, 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 Board's unanimous approval to declare Interest on Capital (IoC). This distribution is based on the company's financial position as of February 28, 2026. The net amount of this IoC will be included in the minimum mandatory dividend calculation for the fiscal year ending December 31, 2026.
Guidance, Outlook, and Payment Terms
Management has established the following timeline and conditions for the approved distribution:
- Record Date: Shareholding position as of March 25, 2026.
- Ex-IoC Date: Shares will trade ex-IoC after March 25, 2026.
- Payment Deadline: Payment will be made by April 30, 2027.
- Dividend Context: The net IoC amount counts toward the minimum mandatory dividend for the 2026 fiscal year, subject to final approval by the Ordinary General Meeting in 2027.
- Variable Factors: The per-share value is subject to change based on the shareholding position on the record date, influenced by the Company's active Share Buyback Program.
Investor Verification Checklist
- Verify the final share count on the record date (March 25, 2026) to confirm the exact per-share distribution amount, as the buyback program may alter the denominator.
- Confirm the final payment date set by the Executive Board, which must occur on or before April 30, 2027.
- Review the upcoming Ordinary General Meeting (2027) agenda to ensure the IoC is formally ratified as part of the mandatory dividend for fiscal year 2026.
- Check for any updates on the Share Buyback Program that could impact the total number of outstanding shares.