Dividend History
As its Dividend Policy, the Company intends to declare and pay dividends in cash of at least 25% of the Company’s consolidated net profits based on the last audited financial accounts. The Board of Directors shall take into consideration the following at the time of decision making to distribute dividends:
- The availability of dividends from the Company’s subsidiaries.
- The declaration and payment of dividends should not cause the Company to breach any applicable laws or adversely impact on the equity growth requirements of the Company or its subsidiaries.
- Financial performance of the Company.
- General business and economic-financial conditions affecting the Company.
- Any other factors which the Board may deem relevant.
Notwithstanding the foregoing, under Bermuda Law, any dividend may only be declared and paid if (i) the Company is able to pay its liabilities as they become due, and (ii) the realizable value of its assets is not less than the aggregate value of its liabilities, issued share capital and share premium accounts. The Board of Directors may in its sole discretion declare and pay a dividend below 25%, if any of the aforementioned conditions are not met. Subject to the foregoing, it is expected that dividend payments are to be made once a year within ninety (90) calendar days of the meeting held by the Board to approve the dividend declaration. No interim dividends are to be paid. This policy has been in force since 2016 and it will continue to be applicable until amended or rescinded by the Board of Directors.
As a holding company, our ability to make dividend payments, if any, and to pay corporate expenses will depend upon the receipt of dividends and other distributions from our operating subsidiaries. Our principal operating subsidiaries are Banco de Credito del Peru (BCP Stand-alone), Banco de Credito de Bolivia (BCP Bolivia), Mibanco, Mibanco Colombia, Grupo Pacifico, Prima AFP, ASB Bank Corp. and Credicorp Capital. Subject to certain reserve and capital adequacy requirements under applicable regulations, we are able to cause our subsidiaries to declare dividends. If our subsidiaries do not have funds available, or are otherwise restricted from paying us dividends, we may be limited in our ability to pay dividends to shareholders. Currently, despite the minimum capital requirements, there are no restrictions on the ability of BCP Stand-alone, BCP Bolivia, Mibanco, Mibanco Colombia, Grupo Pacifico, Prima AFP, ASB Bank Corp. and Credicorp Capital to pay dividends abroad. In addition, our right to participate in the distribution of assets of any subsidiary, upon any subsidiary’s liquidation or reorganization (and thus the ability of holders of our securities to benefit indirectly from such distribution), is subject to the prior claims of creditors of that subsidiary, except where we are considered an unsubordinated creditor of the subsidiary. Accordingly, our securities will effectively be subordinated to all existing and future liabilities of our subsidiaries, and holders of our securities should look only to our assets for payments.
In addition, the value of any dividend paid by our operating subsidiaries that declare dividends in a currency different from Credicorp’s dividends (e.g. ASB Bank Corp., BCB Bolivia, Credicorp Capital Holding Chile, and Credicorp Holding Colombia) is subject to the impact of the depreciation of the dividend’s currency against Credicorp’s functional currency. This would have a negative impact on our ability to pay dividends to shareholders.
Furthermore, in accordance with the Company’s Dividend Policy, the Board held on December 23, 2021 resolved that Credicorp will declare dividends, if any, in the month of April or thereafter, once the Company’s subsidiaries have agreed the declaration and date of payment of any dividends in their respective shareholder and board meetings.
The following table shows cash and stock dividends paid by Credicorp in the period indicated:
Record | Declared | Payable | Amount | Type |
---|---|---|---|---|
September 15, 2021 | August 26, 2021 | October 7, 2021 | S/ 5.00001 | Cash |
April 13, 2020 | February 27, 2020 | May 8, 2020 | S/ 30.00002 | Cash |
October 23, 2019 | September 25, 2019 | November 22, 2019 | S/ 8.0000 3 | Cash |
April 16, 2019 | February 27, 2019 | May 10, 2019 | S/ 20.0000 4 | Cash |
April 18, 2018 | February 28, 2018 | May 11, 2018 | S/ 14.1726 5 | Cash |
November 14, 2017 | October 25, 2017 | November 24, 2017 | S/ 15.7000 6 | Cash |
April 18, 2017 | February 22, 2017 | May 12, 2017 | S/ 12.2865 7 | Cash |
April 18, 2016 | February 24, 2016 | May 13, 2016 | $2.32 | Cash |
April 21, 2015 | February 26, 2015 | May 15, 2015 | $2.19 | Cash |
April 22, 2014 | February 27, 2014 | May 16, 2014 | $1.90 | Cash |
April 18, 2013 | February 27, 2013 | May 10, 2013 | $2.60 | Cash |
April 18, 2012 | February 22, 2012 | May 11, 2012 | $2.30 | Cash |
April 19, 2011 | February 23, 2011 | May 13, 2011 | $1.95 | Cash |
April 16, 2010 | February 24, 2010 | May 11, 2010 | $1.70 | Cash |
April 20, 2009 | February 27, 2009 | May 13, 2010 | $1.50 | Cash |
April 16, 2008 | February 27, 2008 | May 7, 2008 | $1.50 | Cash |
April 19, 2007 | February 28, 2007 | May 7, 2007 | $1.30 | Cash |
April 12, 2006 | February 23, 2006 | May 3, 2006 | $1.10 | Cash |
April 19, 2005 | February 17, 2005 | May 2, 2005 | $.80 | Cash |
April 16, 2004 | February 25, 2004 | April 30, 2004 | $.40 | Cash |
April 16, 2003 | February 28, 2003 | April 30, 2003 | $.30 | Cash |
April 5, 2002 | February 28, 2002 | May 2, 2002 | $.20 | Cash |
December 14, 2001 | November 27, 2001 | January 15, 2002 | $.10 | Cash |
April 11, 2001 | February 22, 2001 | May 2, 2001 | $.10 | Cash |
April 13, 2000 | February 25, 2000 | April 27, 2000 | $.10 | Cash |
April 8, 1999 | April 1, 1999 | April 30, 1999 | $.20 | Cash |
March 31, 1998 | February 27, 1998 | April 24, 1998 | $.45 | Cash |
N/A | N/A | April 28, 1997 | N/A | 6-for-5 Stock Split |
March 21, 1997 | February 24, 1997 | April 14, 1997 | $.50 | Cash |
April 12, 1996 | April 9, 1996 | April 18, 1996 | N/A | 17.50% Stock Distribution |
March 29, 1996 | March 25, 1996 | April 12, 1996 | $.55 | Cash |
1 The dividend was paid in US Dollars using the weighted exchange rate of S/4.1310 per US Dollar registered by the Superintendency of Banks, Insurance and Pension Funds (Superintendencia de Banca, Seguros y AFP or SBS by its Spanish initials) for the transactions at the close of business on October 5th, 2021. Therefore, the dividend paid per share was US$1.2104 per share.
2 The dividend was paid in US Dollars using the weighted exchange rate of S/3.4081 per US Dollar registered by the Superintendency of Banks, Insurance and Pension Funds (Superintendencia de Banca, Seguros y AFP or SBS by its Spanish initials) for the transactions at the close of business on May 6th, 2020. Therefore, the dividend paid per share was US$8.8026 per share.
3 The dividend was paid in US Dollars using the weighted exchange rate of S/3.3866 per US Dollar registered by the Superintendency of Banks, Insurance and Pension Funds (Superintendencia de Banca, Seguros y AFP or SBS by its Spanish initials) for the transactions at the close of business on November 20th, 2019. Therefore, the dividend paid per share was US$2.3623 per share.
4 The dividend was paid in US Dollars using the weighted exchange rate of S/3.3150 per US Dollar registered by the Superintendency of Banks, Insurance and Pension Funds (Superintendencia de Banca, Seguros y AFP or SBS by its Spanish initials) for the transactions at the close of business on May 8th, 2019. Therefore, the dividend paid per share was US$6.0332 per share.
5 The dividend was paid in US Dollars using the weighted exchange rate of S/3.2929 per US Dollar registered by the Superintendency of Banks, Insurance and Pension Funds (Superintendencia de Banca, Seguros y AFP or SBS by its Spanish initials) for the transactions at the close of business on May 9th, 2018. Therefore, the dividend paid per share was US$4.3040 per share.
6 The dividend was paid in US Dollars using the weighted exchange rate of S/3.2400 per US Dollar registered by the Superintendency of Banks, Insurance and Pension Funds (Superintendencia de Banca, Seguros y AFP or SBS by its Spanish initials) for the transactions at the close of business on November 22nd, 2017. Therefore, the dividend paid per share was US$4.8457 per share.