Fundamental view – The cancellation of the tax amount demanded by SUNAT removes a potentially sizeable cash outflow that had been factored into Credicorp’s near‑term liquidity forecasts. With the liability now off the books (and the company actively defending its position), free cash flow is expected to improve, giving management more flexibility to maintain or even modestly raise the dividend per share. However, because the dispute is still pending legal resolution, prudential boards typically keep payout ratios stable until the outcome is final. Consequently, any upward tweak to the dividend policy is likely to be incremental rather than a dramatic hike.
Market and technical angle – The news carries a positive sentiment (+60) and has already nudged the stock up on the BAP ticker, finding support near the recent 20‑day moving average and testing a short‑term resistance band around the 55‑day MA. Volume has out‑performed the 10‑day average, indicating buyer conviction. Traders could look for a breakout above this resistance as a signal to add to long positions, especially if the dividend yield (≈ 5‑6 %) remains attractive relative to peers. Conversely, any adverse legal ruling would likely trigger a sell‑off, so a tight stop just below the 20‑day MA is prudent.
Actionable insight – For investors focused on dividend income, the resolution improves the odds that Credicorp can sustain its current payout ratio, making the stock a relatively safe income play in the short term. Consider a modest long‑biased position (e.g., buying on a pull‑back to the 20‑day MA) with a stop‑loss below that level, while monitoring court filings for any new tax exposure that could pressure cash flow and force a dividend cut.