STXNEWS LATAM-Bradesco proposes $1 bln in interest on capital payout-filing
The board of Banco Bradesco SA, Brazil's No. 2 second-largest private sector bank, proposed on Wednesday paying shareholders 2.05 billion reais ($1 billion) in interest on capital, which is a form of dividend distribution, according to a securities filing. Interest on capital payments are for tax purposes deductible in Brazil.
The pay-out would be 0.51255 real per common share and 0.56381 real per preferred share, based on Dec. 21 prices, the filing said. If approved by shareholders, t h e disbursement would occur on March 7.
- Exclusive: Secret contract tied NSA and security industry pioneer |
- U.S. aircraft hit by gunfire in South Sudan as conflict worsens
- With Fed out of the way, what's next on Wall Street?
- Four men arrested in deadly N.J. shopping mall carjacking
- Analysis: Lost Brazil order raises threat to Boeing fighter jets