Itaú Corpbanca Files Material Event Notice to announce Dividend Distribution Proposal

Rhea-AI Summary

Itaú Corpbanca (NYSE: ITCB) announced its plan to propose a dividend distribution of 30% of its 2022 distributable net income at the Annual General Shareholders' Meeting on April 20, 2023. This amounts to approximately $130.12 billion, equating to a dividend of $0.1337 per share for its 973,517,871,202 outstanding shares. The bank will retain the remaining 70% of profits in line with its strategic objectives. This decision reflects the bank's commitment to returning value to shareholders while maintaining a strong capital position.

Positive

• Proposed dividend distribution of $130,123,237,338, demonstrating strong financial performance.
• Dividend of $0.1337 per share benefits shareholders and indicates company confidence.

Negative

• None.

News Market Reaction

+1.68%

1 alert

+1.68% News Effect

On the day this news was published, ITCB gained 1.68%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SANTIAGO, Chile, March 28, 2023 (GLOBE NEWSWIRE) -- ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP)

In an ordinary board meeting held today, the Board of Directors of Itaú Corpbanca (the “Bank”) resolved to propose to the Annual General Shareholders' Meeting, to be held on April 20, 2023, the distribution of 30% of the distributable net income for the fiscal year 2022, which represents an aggregate amount of $130,123,237,338, payable to the holders of the 973,517,871,202 validly issued shares of the Bank. If approved dividend distribution of $0.1336629158920 per share would be payable. In addition, it will be proposed to the Shareholders Meeting that the remaining 70% of the profits to be retained of the Bank’s Board of Directors

The full Material Event Notice is available on the company’s investor relations website at ir.itau.cl.

Investor Relations – Itaú Corpbanca

+56 (2) 2660-1701 / ir@itau.cl / ir.itau.cl

FAQ

What is the dividend amount proposed by Itaú Corpbanca for 2022?

The proposed dividend amount is $130,123,237,338, which equals $0.1337 per share.

When will the dividend be paid to shareholders?

The dividend payment is proposed to be approved at the Annual General Shareholders' Meeting on April 20, 2023.

What percentage of the net income will be distributed as dividends?

Itaú Corpbanca proposes to distribute 30% of the distributable net income for the fiscal year 2022.

What will happen to the remaining profits of Itaú Corpbanca?

The remaining 70% of the profits will be retained by the Bank's Board of Directors.