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On March 16, 2021, Itaú Unibanco Holding S.A. announced the approval of the payment of interest on capital to shareholders, effective by December 31, 2021. Shareholders will receive R$0.05064 per share, subject to a 15% withholding tax, yielding a net amount of R$0.043044 per share for most investors. This payout applies equally to both common (ITUB3) and preferred (ITUB4) shares. The final stockholding position cut-off is March 25, 2021.
ITAÚ UNIBANCO HOLDING S.A. announced a dividend payout of R$0.1394 per share, consisting of R$0.096407 as dividends and R$0.042993 as interest on capital, totaling R$1,361 million net of taxes. Payments will be made on March 12, 2021, to shareholders on record as of February 25, 2021. This announcement follows a prior disclosure on February 1, 2021.
Itaú Unibanco announced its 2021 projections, predicting a 5.5% to 9.5% growth in total credit portfolio and a 2.5% to 6.5% increase in financial margin with clients. The financial margin with the market is expected between R$4.9 billion and R$6.4 billion, while the cost of credit is projected to range from R$21.3 billion to R$24.3 billion. Commissions and fees will also grow 2.5% to 6.5%. Non-interest expenses may vary from -2.0% to 2.0%, and the effective tax rate is estimated to be between 34.5% and 36.5%.
Itaú Unibanco has provided an overview of differences between its financial statements under BRGAAP and IFRS as of year-end 2020. Key data includes total assets of R$2,019,252 million under IFRS, down from R$2,112,586 million under BRGAAP. The bank highlighted a decrease in cash and financial assets, alongside a provision for expected losses leading to adjusted equities. The IFRS adoption results in significant adjustments across various balance sheet items, particularly financial assets and liabilities. More details are available on their investor relations website.
ITAÚ UNIBANCO HOLDING S.A. announced a payout of R$ 0.1394 per share, totaling R$ 1.361 billion for its shareholders, as approved on February 1, 2021. The payment will occur on March 12, 2021, with the final shareholding position determined on February 25, 2021. This sum, in addition to previously declared payments, brings the total payout for 2020 to R$ 0.4614 per share, amounting to R$ 4.5 billion, representing 25% of the net income for the year.
Itaú Unibanco Holding S.A. disclosed its Complete Financial Statements and Management Discussion for Q4 2020, as of December 31, 2020. The documents are accessible on their Investor Relations website. Additionally, the company will host conference calls regarding these results on February 2, 2021, in Portuguese at 08:00 a.m. and in English at 09:30 a.m. (EDT).
SÃO PAULO, Feb. 1, 2021 /PRNewswire/ -- Itaú Unibanco announces its fourth-quarter 2020 results will be released on February 1, post-market closure in Brazil and the U.S. The conference calls for discussing these results are set for February 2, with Portuguese at 8:00 AM EDT and English at 9:30 AM EDT. Key executives including Candido Bracher and Milton Maluhy Filho will present. Audio replays of the calls will be available until February 9. Access details for the webcast and slide presentations will be provided on the Investor Relations website.
Itaú Unibanco is set to announce its fourth quarter 2020 results on February 1st. The conference calls for discussing these results will occur on February 2nd at specified times for both Portuguese and English audiences. Key personnel including Candido Bracher, newly appointed CEO, and Milton Maluhy Filho, current CFO, will lead the presentations. The audio of the conference calls will be archived until February 9th, allowing investors to access the information at their convenience.
Itaú Unibanco will announce its fourth-quarter 2020 results on February 1, 2021, after market closure in Brazil and the U.S. Conference calls will occur on February 2, with Portuguese at 8:00 AM EDT and English at 9:30 AM EDT. Participants can join via dial-in numbers or access webcasts. The audio replay will be available until February 9, 2021. Slide presentations will also be shared on the morning of the calls. For more information, visit Itaú's Investor Relations website.
Itaú Unibanco Holding S.A. has resubmitted the Management's Proposal for its Extraordinary General Stockholders' Meeting, set for January 31, 2021. The proposal now includes a change in the number of members on Newco's Board of Directors from three to four. Demosthenes Madureira de Pinho Neto is nominated for the newly created position. Votes previously cast will be disregarded, requiring stockholders to submit new voting instructions by January 27, 2021. The updated Management's Proposal is accessible on the Company's investor relations website and other regulatory platforms.
