Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No ___X____
Osasco, São Paulo, Brazil, March 5th, 2003
To
Security and Exchange Commission
Office of International Corporate Finance
Division of Corporate Finance
Washington, DC
Gentlemen,
Ref.: Monthly Interest on Own Capital
.Banco Bradesco S.A.
The Board of Directors of this Bank, in a meeting held on this
date, approved the Board of Executive Officers proposal for:
1. An increase in the amount paid as Monthly Interest on Own Capital by 20%
(twenty percent). Such payments, anticipated to the Company's stockholders,
will raise from R$0.0117650 to R$0.0141180 for common stock, and from
R$0.0129415 to R$0.0155298 for preferred stock, both per lot of one
thousand stocks, to take effect beginning with the Interest payment
regarding the month of March/2003.
The payment will be made at the net amount of R$0.0120 for common stock and
R$0.0132 for preferred stock, both per lot of one thousand stocks, after
deduction of Income Withholding Tax of fifteen percent (15%), except for
the legal entity stockholders that are exempt from this respective
taxation, which will receive the declared amount.
2. The payment to the Company's Stockholders, pursuant to the Corporate Bylaws
and legal provisions, of Interests on Own Capital related to the month of
March/2003, in the amount of R$0.0141180 for common stock and R$0.0155298
for preferred stock, both per lot of one thousand stocks, benefiting the
stockholders registered in the Company's records on this date (March 5th,
2003).
The payment will be made on April 1st, 2003, at the net amount of R$0.0120
for common stock and R$0.0132 for preferred stock, both per lot of one
thousand stocks for those stockholders with stock position equal to or over
100,000 stocks, after deduction of Withholding Income Tax of fifteen
percent (15%), except for the legal entity stockholders that are exempt
from this respective taxation, which will receive the declared amount.
For those with stock position up to 99,999 stocks, the payment will be made
on July 1st, 2003, but may be anticipated if the stockholder presents a
written request for that purpose.
The respective Interests will be computed in the calculation of the minimum
compulsory dividend for the year, as provided in the Corporate Bylaws.
The Interests relating to stocks under custody at CBLC - Brazilian Company
and Depository Corporation will be paid to CBLC, independently the
stockholder position which will be transferred to the stockholders through
the depository Brokers.
Cordially,
Banco Bradesco S.A.
Carlos Alberto R. Guilherme Rômulo Nagib Lasmar
Managing Director Department Director
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BANCO BRADESCO S.A.
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| By: |
/S/
Carlos Alberto R. Guilherme
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Carlos Alberto R. Guilherme
Managing Director
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This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.