SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of April, 2005
Commission File Number: 001-14475
TELESP HOLDING COMPANY
(Translation of registrant’s name into English)
Rua Martiniano de Carvalho, 851 – 21o andar
São Paulo, S.P.
Federative Republic of Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ¨ No x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ¨ No x
Indicate by check mark whether by furnishing the information contained in this Form, the Registrant 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
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
TABLE OF CONTENTS
| Item |
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| 1. | Press Release entitled “Telecomunicações de São Paulo S.A. – Telesp Announces the Payment of Interim Dividend and Interest on the Company’s Net Worth” dated on April 01, 2005. |
TELECOMUNICAÇÕES DE SÃO PAULO S.A. - TELESP
Announces the Payment of Interim Dividend and Interest on the Company’s Net Worth
April 01, 2005 (02 pages)
For more information, contact:
Daniel de Andrade Gomes
TELESP, São Paulo - Brazil
Tel.: (55-11) 3549-7200
Fax: (55-11) 3549-7202
E-mail: dgomes@telefonica.com.br
URL: www.telefonica.com.br
(São Paulo, Brazil – April 01, 2005) – The Management of Telecomunicações de São Paulo S. A. – Telesp (NYSE: TSP; BOVESPA: TLPP) announces the payment of Interim Dividend and Interest on the Company’s Net Worth.
I – INTERIM DIVIDENDS - FISCAL YEAR 2005
In accordance with the resolutions taken by the Board of Directors at the Meeting held on April 01, 2005, ad referendum of the General Shareholders’ Meeting, Telecomunicações de São Paulo S. A. – Telesp hereby informs its shareholders that it will grant interim dividends for a total amount of R$1,500,000,000.00 (one billion, five hundred million reais), according to the table below. The aforementioned interim dividends have been declared based on the accumulated earnings as of the December 31, 2004 financial statements and according to article 28 of the Company’s bylaws and article 204 of the Law #6404/76. The preferred and common shareholders individually registered as such at the end of the day, on April 01, 2005 are enabled to receive the dividends. After this date, the shares will be traded as “ex-dividends”.
| Type of share |
Common |
Preferred | ||
| Amount per lot of 1,000 shares: R$ |
2.849438590591 | 3.134382449650 (*) |
| (*) | 10% higher than the amount granted to each common share, in accordance with article 7 of the Company’s bylaws. |
In accordance with the single paragraph of the article 28 of the Company’s bylaws, said interim dividends will be charged to the mandatory minimum dividend for the fiscal year 2005, ad referendum, of the General Shareholders’ Meeting that approves the financial statements for the year 2005.
The payment of said dividends will be executed along the fiscal year 2005.
III – INTEREST ON THE COMPANY’S NET WORTH – FISCAL YEAR 2005
In accordance with the resolutions taken by the Board of Directors at the Meeting held on April 01, 2005, ad referendum of the General Shareholders’ Meeting, Telecomunicações de São Paulo S.A. – Telesp hereby informs its shareholders about the payment of Interest on the Company’s Net Worth related to the fiscal year 2005, in accordance with the article 9 of the Law #9249/95 and Instruction #207/96 of the Comissão de Valores Mobiliários. The total amount is R$359,000,000.00 (three hundred fifty nine million reais) and after withholding the income tax of 15%, its net amount is R$305,150,000.00 (three hundred five million reais), according to the table below:
| Amount per lot of 1,000 shares: R$ |
Immune or Exempt Legal |
Withholding tax (15%) |
Taxed Legal Entities and Individuals (net value) | |||
| Common Shares |
0.681965636014 | 0.102294845402 | 0.579670790612 | |||
| Preferred Shares(*) |
0.750162199615 | 0.112524329942 | 0.637637869673 |
| (*) | 10% higher than the amount granted to each common share, in accordance with article 7 of the Company’s bylaws |
The payment of said Interest on the Company’s Net Worth will be executed along the fiscal year 2005.
The corresponding credit will be made in the Company’s accounting records on April 30, 2005, on an individual basis for each shareholder, based on the positions in the shareholder registry book by the end of the day, on April 29, 2004. Starting on May 02, 2005, the shares will be considered as “ex-Interest on the Company’s Net Worth”.
In accordance with the single paragraph of the article 29 of the Company’s bylaws, said Interest on the Company’s Net Worth may be charged to the mandatory minimum dividend for the fiscal year 2005.
The Immune or Exempt Legal Entities, according to the current legislation, must provide proof of such condition until May 13, 2005 to the Gerenciamento de Ações Escriturais of Banco ABN AMRO Real S.A. (Banco Real), the depositary bank, located at Av. Brigadeiro Luis Antonio, 2020 – 6º andar – Edifício Sudameris—CEP: 01318-911 – Bela Vista – São Paulo – SP.
III - INCOME TAX WITHHOLDING
Pursuant to the current legislation:
| 1. | Dividends are exempt of Income Tax Withholding, according to Law #9245/95. |
| 2. | 15% of the Interest on the Company’s Net Worth is withheld for income tax purposes at the time of its credit. There is no income tax for the legal entities that prove their immunity or exempt status within the established term. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TELESP HOLDING COMPANY | ||||
| Date: April 01, 2005 |
By: | /s/ Daniel de Andrade Gomes | ||
| Name: | Daniel de Andrade Gomes | |||
| Title: | Investor Relations Director | |||