Credicorp Ltd. : Credicorp's Declaration of Special Dividends
October 25 2017 - 7:58PM
Lima, PERU,
October 25, 2017 - Credicorp Ltd. announces to its shareholders
and the market that the Board of Directors, in its session held on
October 25, 2017, approved the distribution of an special cash
dividend of S/1,481,802,376.90 for a total of 94,382,317
outstanding shares, which is equivalent to S/15.7000 per share,
establishing as registration date on Tuesday November 14, 2017.
The cash dividend will be paid out
on November 24, 2017, without withholding tax at source. The
dividend will be paid in US Dollars using the weighted exchange
rate registered by the Superintendency of Banks, Insurance and
Pension Funds (Superintendencia de Banca, Seguros y AFP) for the
transactions at the close of business on November 22, 2017. The US
Dollar dividend amount will be rounded up to four decimals.
The Board's decision to approve
the distribution of a special dividend is based on Credicorp's
financial strength and the significant capital gains it has been
making in recent years, and in virtue of the provisions set forth
in the Company's By-Laws.
The dividend shall be applied on
Credicorp's freely available optional reserves and shall be paid
with funds from the sale proceeds of non-strategic investments
performed by the company in recent months and from liquidity
surpluses currently retained by Credicorp.
Credicorp states that at the
present time it has the necessary and sufficient funds to pay the
special dividend considering the criterion established by Section
54 of the 1981 Companies Act of Bermuda and that its decision to
declare and pay such special dividend shall not affect the company
capital requirements, placing them at all times over regulatory
limits and within its Risk Appetite levels.
Credicorp shall continue to invest
in its recurring business to ensure the company long-term
profitability, thus confirming its objective of optimizing the
capital structure and, consequently, increasing capital returns for
its shareholders.
About
Credicorp
Credicorp Ltd. (NYSE: BAP) is the leading financial holding company
in Peru. It is composed of Banco de Crédito del Peru (BCP),
Atlantic Security Holding Corporation (ASHC), Grupo Pacifico
Seguros, Prima AFP, and Credicorp Capital, which are among Peru's
top-rated brands. Credicorp 's primary businesses are banking
(commercial & investment banking and retail banking, including
SME and micro-lending); insurance (including property and casualty,
life and health insurance); pension funds (private pension fund
management services); and brokerage services (including trust,
custody and securitization services, asset management and
proprietary trading and investment).
For further information please contact the IR
team:
IRCredicorp@bcp.com.pe
Investor Relations
Credicorp Ltd.
PDF doc.: Credicorp’s Declaration
of Special Dividends
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Credicorp Ltd. via Globenewswire
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