O Bradesco (BBDC4) reported this Thursday (19) that the Board of Directors, in a meeting held today, approved the Board's proposal to payment of interest on intermediate equityfor a total value of R$2 billion, being R$0.179570675 per common share and R$0.197527743 per preferred share.
Shareholders registered in the Company's records on September 30 will benefit, according to the company.
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Payment will be made by April 30, 2025, for the net amount of R$0.152635074 per common share and R$0.167898582 per preferred share, after deducting the 15% Income Tax at Source, except for legal entity shareholders who are exempt from said taxation, who will receive the declared amount, and will be made as follows:
- To shareholders with shares deposited in the Company and who keep their registration and banking details up to date, through credit to be made to current accounts in financial institutions indicated by them; and
- To shareholders with shares deposited at B3 SA – Brasil, Bolsa, Balcão, through institutions and/or brokers that hold their positions in custody.
According to Bradesco, shareholders who do not have their data updated must go to the Bradesco branch of their choice, with their CPF, ID and proof of residence, to update their registration and receive the respective amounts to which they are entitled.
“The interest now approved represents approximately 10.4 times the value of the monthly interest paid, net of income tax at source, and will be included in the calculation of the mandatory dividends for the year provided for in the Articles of Association,” the company also said.
Bradesco Recovery
In the second quarter, Bradesco made a profit of R$4.7 billion, up 4.4% and above market expectations.
JPMorgan drew attention to the reacceleration of loan growth, the inflection of the NII (financial margin) of customers, optimizing the footprint on the right track and ROE (return on equity) rising slowly.
“All these improvements will be gradual, but we believe there are arguments that suggest Bradesco should return to 15-16% ROE sooner than management has been advising,” they said in an August report.
Analysts also noted that smaller banks, with less scale in technology and financing, deliver ROE of 12%. If Bradesco's retail division returns to at least this level, the consolidated bank returns to 16%, deserving a book value of 1.2x.
“While it is not a walk in the park as the recovery remains in place, fintechs remain a threat and higher rates are a headwind (i.e. we have lowered our market yield estimates), we believe the risk reward remains positive,” they wrote.