Business Context and Reporting Period
Company: Macro Bank Inc.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: May 30, 2016
Context: The filing announces the authorization and payment schedule for a cash dividend distribution for the fiscal year ended December 31, 2015. The distribution was approved by the General and Special Shareholders' Meeting on April 26, 2016, and the Board of Directors on May 30, 2016, following authorization from the Central Bank of the Argentine Republic on May 27, 2016.
Key Financial Metrics
- Total Cash Dividend: AR$ 643,019,330.80
- Dividend Per Share: AR$ 1.10
- Outstanding Corporate Capital: AR$ 584,563,028
- Dividend Yield on Capital: 110%
- Source of Funds: Income for the fiscal year 2011
- Revenue, Profit, Cash Flow, Debt, Liquidity: The filing text does not provide a clear value for these specific metrics.
Material Changes
The filing does not report material changes in operational performance, revenue, or debt levels compared to prior periods. The primary material event is the regulatory approval and subsequent declaration of a significant cash dividend payout.
Guidance, Outlook, and Risks
- Payment Schedule: Dividends will be available from June 15, 2016, to shareholders recorded in the stock ledger as of June 14, 2016.
- Taxation: Applicable Income Tax withholdings under Law 26,893 will be deducted at the time of payment. The distribution is exempt from the 35% withholding under Section 69 of the Argentine Income Tax Law because the distributed amount does not exceed the income determined under general provisions.
- Payment Location: Caja de Valores S.A., Buenos Aires.
- Outlook/Guidance: The filing text does not provide a clear value for future guidance or management outlook.
Investor Verification Checklist
- Verify shareholder status on the record date of June 14, 2016.
- Confirm the net dividend amount after applicable Income Tax withholdings under Law 26,893.
- Review the source of funds (fiscal year 2011 income) to understand the timing of earnings relative to the payout.
- Check for any additional regulatory requirements for receiving funds at Caja de Valores S.A.