Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) covers the period ending June 30, 2010. The document specifically addresses the Board of Directors' approval on June 28, 2010, regarding the payment of Intermediary Interest on Own Capital for the first half of 2010.
Key Financial Metrics
- Intermediary Interest Payment: Total amount approved is R$558.6 million.
- Per Share Amount (Gross): R$0.155520588 per common share and R$0.171072647 per preferred share.
- Per Share Amount (Net): R$0.132192500 per common share and R$0.145411750 per preferred share (after 15% withholding tax).
- Payment Date: July 19, 2010.
- Record Date: June 28, 2010.
- Ex-Right Date: June 29, 2010.
Note: The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity for the period.
Material Changes and Unusual Items
The primary material event is the declaration of Intermediary Interest. Key characteristics of this payment include:
- The net amount represents 10 times the amount of monthly dividends paid.
- The payment will be computed in the calculation of mandatory dividends for the fiscal year as per the company's Bylaws.
- Shares derived from the bonus stock process approved on June 10, 2010, will not be eligible for this payment.
- Corporate entity shareholders are exempt from the 15% withholding income tax and will receive the gross declared amount.
Guidance, Outlook, and Risks
The filing contains standard forward-looking statements regarding future economic circumstances, industry conditions, and company performance. Management notes that actual results may differ materially from expectations due to risks including general economic and market conditions, industry conditions, and operating factors. No specific financial guidance or outlook for future periods is provided in this document.
Investor Verification Checklist
- Verify shareholder registration status as of June 28, 2010, to confirm eligibility for the payment.
- Confirm banking data is complete in the company's records to ensure direct credit of funds.
- Check if the shareholder holds shares derived from the June 10, 2010 bonus stock process, as these are excluded from this payment.
- Review the 15% withholding tax implications for individual versus corporate shareholders.