Business Context and Reporting Period
This Form 6-K filing by Macro Bank Inc. (Banco Macro) is dated June 19, 2014. The document serves as a translation of a submission to the Argentine National Securities Commission (CNV) regarding the payment of a cash dividend approved by the General and Special Shareholders' Meeting on April 29, 2014, and the Board of Directors on June 18, 2014.
Key Financial Metrics
The filing focuses exclusively on dividend distribution details rather than comprehensive financial performance metrics such as revenue, profit, or cash flow.
- Cash Dividend Total: AR $596,254,288.56
- Dividend Per Share: AR $1.02
- Outstanding Corporate Capital: AR $584,563,028
- Dividend Coverage: 102% of outstanding corporate capital
- Record Date: June 30, 2014
- Payment Date: Starting July 1, 2014
Material Changes
The filing does not provide comparative financial data or material changes in operating performance versus prior periods. The primary material event is the execution of the approved dividend payment.
Guidance, Outlook, and Risks
Tax Withholding: Applicable Income Tax withholdings under Law 26,893 will be deducted at the time of payment and remitted to the Argentine Tax Authority (AFIP). The distribution is explicitly stated as not subject to the 35% withholding under the Argentine Income Tax Law because the dividends do not exceed the income determined under general provisions.
Payment Logistics: Dividends will be available at Caja de Valores S.A. in Capital Federal, Monday through Friday, from 10 am to 3 pm.
Outlook: The filing text does not provide management commentary, future guidance, or discussion of risks and contingencies beyond the tax implications of the dividend.
Investor Verification Checklist
- Verify the record date of June 30, 2014, to confirm eligibility for the AR $1.02 per share dividend.
- Confirm the net dividend amount after applicable Income Tax withholdings under Law 26,893.
- Check the status of the 35% withholding exemption to ensure the distributed amount aligns with reported income.
- Review the payment schedule at Caja de Valores S.A. starting July 1, 2014.