CORRECTING AND REPLACING Bradesco: Payment of Complementary Interest on Own Capital.Business Editors CORRECTION... SAO Sa´o n. 1. (Zool.) Any marine annelid of the genus Hyalinæcia, especially H. tubicola of Europe, which inhabits a transparent movable tube resembling a quill in color and texture. PAULO, Brazil--(BUSINESS WIRE)--Nov. 21, 2003 In BW5195 issued Nov. 21, 2003: The source should be "Business Wire Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. " sted "Banco Bradesco Banco Bradesco, short for Banco Brasileiro de Descontos, that is 'Brazilian Discount Bank', is one of the Big Four banks in Brazil, the others being Banco do Brasil, Banco Itaú and Unibanco. Bradesco is the largest private bank in Brazil. ." The corrected release reads: BRADESCO: PAYMENT OF COMPLEMENTARY INTEREST ON OWN CAPITAL The Board of Executive Officers of Banco Bradesco S.A., (NYSE NYSE See: New York Stock Exchange :BBD BBD In currencies, this is the abbreviation for the Barbados Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) in a meeting held today, decided to propose to the Company's Board of Directors, in a meeting to be held on December 5, 2003, the payment to the Company's Stockholders, in accordance with legal and statutory provisions, of Complementary Interest on Own Capital relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the fiscal year 2003, in the amount of R$0.5121493 for the common stock and R$0.5633643 for the preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , both per thousand stocks, which represents 36.3 times the monthly interest paid, benefiting the stockholders registered in the Bank's books on that date (December 5, 2003). Upon approval of this proposal, the payment shall be settled on March 10, 2004, in the net amount of R$0.4353269 for the common stock and R$0.4788597 for the preferred stock, both per thousand stocks, after withholding Income Tax at a rate of 15% (fifteen percent), except for corporate stockholders, which are exempt from this taxation, and thus will receive the declared amount. The Interest relating to stocks under custody at CBLC CBLC Companhia Brasileira de Liquidacao e Custodia (Portugese) CBLC Certificate in Business Language Competence CBLC Computer-Based Learning Centre CBLC Cincinnati Band Leadership Clinic (University of Cincinnati) - Brazilian Company and Depository The place where a deposit is placed and kept, e.g., a bank, savings and loan institution, credit union, or trust company. A place where something is deposited or stored as for safekeeping or convenience, e.g., a safety deposit box. Corporation will be paid to CBLC, which will be transferred to the stockholders through the depository Brokers. The table below presents the paid, declared and proposed Interest on Own Capital relating to the fiscal year 2003:
In R$ thousands
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Monthly 262,691
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1st half - Intermediary 231,915
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Complementary of the fiscal year 852,479
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Total 1,347,085
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Per thousand stocks in R$
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Complementary of the Total
Type Monthly 1st half-Intermediary fiscal year
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(ON) 0.1647100 0.1411800 0.5121493 0.8180393
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(PN) 0.1811810 0.1552980 0.5633643 0.8998433
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The capital remuneration policy adopted by Bradesco, through the distribution of Interest on Own Capital in the maximum amount calculated in conformity with the current legislation, aims at creating stockholder value by means of increasing the return on the investment. This policy has generated a distribution of Interest on Own Capital and/or Dividend in amounts much higher than the minimum established in the Company's Bylaws The rules and regulations enacted by an association or a corporation to provide a framework for its operation and management. Bylaws may specify the qualifications, rights, and liabilities of membership, and the powers, duties, and grounds for the dissolution of an , of 30% (thirty percent) of the adjusted Net Income. The amounts distributed as Interest on Own Capital are included, net of withholding Income Tax, in the calculation of the mandatory Dividend, as provided in the Company's Bylaws. |
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