Business Context and Reporting Period
This Form 6-K filing by TELEFONICA BRASIL S.A. reports on the minutes of the 258th Fiscal Council meeting held on March 13, 2026. The document details a corporate governance decision regarding the declaration of Interest on Capital (IoC) based on the balance sheet as of February 28, 2026.
Key Financial Metrics
The filing focuses exclusively on a specific capital distribution proposal rather than comprehensive financial performance metrics.
- 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% withholding income tax)
- Gross IoC Per Share: R$0.06258593142
- Net IoC Per Share: R$0.05163339342
- Revenue, Profit, Cash Flow, Debt, and Liquidity: The filing text does not provide a clear value for these metrics.
Material Changes and Corporate Actions
The primary material event is the unanimous approval by the Fiscal Council to propose the declaration of IoC to the Board of Directors. Key details include:
- Record Date: Shareholding position as of March 25, 2026.
- Ex-IoC Date: Shares will trade ex-IoC after March 25, 2026.
- Dividend Treatment: The net IoC amount will be included in the minimum mandatory dividend for the fiscal year ending December 31, 2026.
- Payment Date: Scheduled for April 30, 2027, subject to the exact date set by the Executive Board.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on operational outlook, or specific risk factors beyond standard tax considerations.
- Tax Contingency: The net value assumes a standard tax rate of 17.5%, which may vary due to international treaties, tax immunities, exemptions, or privileged tax regimes.
- Share Count Variability: The value per share is calculated based on the shareholding position of February 27, 2026. Due to an active Share Buyback Program, the final value per share may change based on the verified shareholding position on March 25, 2026.
- Approval Process: The proposal is ad referendum to the Ordinary General Meeting to be held in 2027.
Investor Verification Checklist
- Verify the final share count on the record date of March 25, 2026, to confirm the exact per-share payout given the active buyback program.
- Confirm the final tax rate applicable to the distribution, as the 17.5% rate is subject to variation based on shareholder status and treaties.
- Monitor the Ordinary General Meeting in 2027 for final approval of the dividend inclusion and the exact payment date.
- Check subsequent filings for the full financial statements for the period ending February 28, 2026, as this filing only references the balance sheet for the IoC calculation.