Credicorp Ltd.: Credicorp Raises Annual Dividend 40% to S/35.0 per Share

Rhea-AI Summary

Credicorp announces a 40% increase in its annual dividend to S/35.0 per share, reflecting strong financial performance and growth prospects.

Positive

• The Board of Directors of Credicorp has declared a dividend of S/35.0 per share, a 40% increase from the previous year.
• The dividend will be paid out on June 14th, 2024, without withholding tax at source, to shareholders of record on May 20th, 2024.
• The total dividend amount declared is S/3,303,381,095.00 for 94,382,317 issued shares, based on a total net income of S/4,865,540,233.17 in the 2023 financial year.
• The dividend will be paid in US Dollars using the exchange rate registered by the Peruvian Superintendency of Banks, Insurance and Pension Funds.
• Gianfranco Ferrari, CEO of Credicorp, highlighted the company's confidence in its growth potential and cash flow generation capacity.
• Credicorp is a leading financial services holding company in Peru with operations in Chile, Colombia, Bolivia, and Panama.

Negative

• None.

Lima, April 25, 2024 (GLOBE NEWSWIRE) -- Lima, PERU, April 25^th, 2024 -- Credicorp Ltd. (“Credicorp” or the “Company”) (NYSE: BAP | BVL: BAP), the leading financial services holding company in Peru with presence in Chile, Colombia, Bolivia and Panama today announces to its shareholders and the market that the Board of Directors declared a dividend of S/35.0 per share on the issued shares of the common stock of Credicorp, an increase from the prior annual dividend of S/25.0 per share.  The cash dividend will be paid out on June 14^th, 2024, without withholding tax at source, to shareholders of record on May 20^th, 2024.

“Dividends continue to be an integral part of our approach to shareholder value creation. We're proud to be increasing our annual dividend. This year’s 40% increase reflects the resiliency of our results and our confidence in both our growth potential and cash flow generation capacity.” commented Gianfranco Ferrari, CEO of Credicorp.

In its session held on April 25^th, 2024, the Board agreed unanimously to the distribution of a total dividend of S/3,303,381,095.00 for a total of 94,382,317 issued shares in accordance with the Byelaws of the Company and in consideration of a total net income attained in the 2023 financial year of S/4,865,540,233.17.  The dividend will be paid in US Dollars using the weighted exchange rate registered by the Peruvian Superintendency of Banks, Insurance and Pension Funds (Superintendencia de Banca, Seguros y AFP) for the transactions at the close of business on June 12^th, 2024. The US Dollar dividend amount will be rounded up to four decimals.

About Credicorp

Credicorp Ltd. (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia, and Bolivia. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Credito del Peru – BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and ASB Bank Corp.

For further information please contact the IR team:

investorrelations@credicorpperu.com

Investor Relations
Credicorp Ltd.

FAQ

What is the new annual dividend per share declared by Credicorp ?

Credicorp has declared a new annual dividend of S/35.0 per share, representing a 40% increase from the previous year.

When will the dividend be paid out to shareholders?

The dividend will be paid out on June 14th, 2024, without withholding tax at source, to shareholders of record on May 20th, 2024.

How is the total dividend amount calculated by Credicorp ?

The total dividend amount of S/3,303,381,095.00 was declared for 94,382,317 issued shares based on a total net income of S/4,865,540,233.17 in the 2023 financial year.

In which currencies will the dividend be paid?

The dividend will be paid in US Dollars using the exchange rate registered by the Peruvian Superintendency of Banks, Insurance and Pension Funds.

Who commented on the increase in annual dividend at Credicorp ?

Gianfranco Ferrari, the CEO of Credicorp, expressed confidence in the company's growth potential and cash flow generation capacity.