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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Telefonica Brasil SA    VIVT4   BRVIVTACNPR7

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Telefonica Brasil : 06/19/2017 - Notice to Shareholders - Deliberation of Interest on Own Capital

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06/19/2017 | 10:36pm CEST
NOTICE TO SHAREHOLDERS DELIBERATION OF INTEREST ON OWN CAPITAL

Telefônica Brasil S.A. - ("Company") announces to its shareholders that the Board of Directors, at its meeting held on June 19, 2017, deliberated, ad referendum of the General Shareholders' Meeting, the credit of Interest on Own Capital ("IOC"), related to the fiscal year of 2016, in accordance with article 28 of the Company's Bylaws, article 9 of the Law 9,249/95 and CVM's Instruction No. 683/2012, in the gross amount of R$ 95,000,000.00 (ninety-five million reais), subject to withholding tax of 15%, resulting in a net amount of R$ 80,750,000.00 (eighty million, seven hundred and fifty thousand reais), based on the net profit shown in the balance sheet of May 31, 2017. The estimated value per share is described in the table below:

Amount per share (R$)

Immune or Exempt Legal Entities (gross value)

Withholding tax (15%)

Taxed Legal Entities and Individuals (Net value)

Common shares

0.05275935723

0.00791390358

0.04484545365

Preferred shares (*)

0.05803529296

0.00870529395

0.04932999901

(*) 10% higher than the amount granted to each common share, in accordance with article 7 of the Company's Bylaws.

In accordance to the article 28 of the Company's Bylaws, such Interest on Own Capital will be charged to the mandatory minimum dividend for the fiscal year of 2017, ad referendum of the General Shareholders' Meeting to be held in 2018.

The credit of Interest on Own Capital will be made on individual basis for each shareholder, in accordance to the shareholder registry book position by the end of June 30, 2017. After this date, the shares will be considered as "ex-Interest on Own Capital". The payment of these proceeds will be carried out before the end of the fiscal year of 2018, in a date to be defined by the Company's Board.

The Immune or Exempt Legal Entities, according to the current legislation, must provide proof of such condition until July 5, 2017 to the "Departamento de Ações e Custódia" of Banco

Bradesco S.A., the depositary bank, located at Cidade de Deus, s/n, Amarelo Velho Building, sub-solo - Vila Yara - Zip Code: 06029-900 - Osasco - SP.

Note: Values of Interest on Capital per common and preferred share may suffer future adjustments until June 30, 2017, due to possible acquisitions of shares within the Program for the Buyback of Shares to be held in treasury for subsequent sale and/or cancellation, according to Material Fact of June 9, 2017.

São Paulo, June 19, 2017.

David Melcon Sanchez-Friera

CFO and Investor Relations Officer

Telefônica Brasil - Investor Relations Tel: +55 11 3430-3687

Email: [email protected] Information available at: www.telefonica.com.br/ir

Telefônica Brasil SA published this content on 19 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 June 2017 20:36:04 UTC.

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Financials ( BRL)
Sales 2017 43 964 M
EBIT 2017 7 132 M
Net income 2017 5 246 M
Debt 2017 3 353 M
Yield 2017 5,54%
P/E ratio 2017 14,81
P/E ratio 2018 12,64
EV / Sales 2017 1,70x
EV / Sales 2018 1,60x
Capitalization 71 412 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 53,0  BRL
Spread / Average Target 16%
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Managers
NameTitle
Eduardo Navarro de Carvalho Chairman, President & Chief Executive Officer
David Melcon Sanchez-Friera Chief Financial & Investor Relations Officer
Antônio Carlos Valente da Silva Director
Francisco Javier de Paz Mancho Independent Director
Luis Francisco J. Bastida Ibargüen Independent Director
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