Business Context and Reporting Period
This Form 6-K filing by Loma Negra Compania Industrial Argentina Sociedad Anonima (Loma Negra) covers the month of December 2022, with the report dated December 27, 2022. The filing serves as a formal announcement regarding the Board of Directors' resolution to distribute dividends to shareholders.
Key Financial Metrics
The filing details a specific dividend distribution rather than comprehensive financial performance metrics such as revenue, profit, or cash flow.
- Total Dividend Amount: ARS 3,500,000,000.
- Dividend Per Share: ARS 5.996496391074610 per outstanding share (excluding treasury shares).
- Dividend Per ADS: ARS 29.982481955373000 per American Depositary Share.
- Dividend Yield on Capital: Equivalent to 5,996.496391074610000% of the outstanding capital stock.
- Funding Source: A portion of the Reserve for Future Dividends.
The filing text does not provide clear values for revenue, operating profit, cash flow, margins, debt levels, or liquidity ratios.
Material Changes
This filing does not present comparative financial data against prior periods. The primary material event is the declaration of a dividend payment, which represents a significant cash outflow from the company's reserves to shareholders.
Guidance, Outlook, and Payment Mechanics
Management has outlined specific procedures for the dividend payment, offering shareholders flexibility in currency selection:
- Payment Date: January 9, 2023.
- Currency Options: Shareholders may receive dividends in Argentine Pesos (ARS) or elect to receive the equivalent in US Dollars (USD).
- USD Conversion: The USD amount is calculated using the Reference Exchange Rate of the Central Bank of the Argentine Republic (Communication "A" 3500) applicable at the close of business on the trading day immediately preceding the Payment Date.
- Option Period: Shareholders must notify their choice to receive USD between December 30, 2022, and January 5, 2023. Failure to exercise this option results in payment in ARS.
- Taxation: Dividends corresponding to earnings accrued after January 1, 2018, are subject to a 7% withholding tax under Argentine Law No. 27,630.
- ADS Holders: Will receive payments in USD through the Depositary Bank, JPMorgan Chase Bank, N.A.
The filing does not contain forward-looking guidance, management commentary on operational outlook, or specific risk factors beyond standard regulatory references.
Investor Verification Checklist
- Verify the Record Date (the trading day immediately preceding January 9, 2023) to confirm eligibility for the dividend.
- Confirm the deadline to exercise the US Dollar Payment Option (January 5, 2023) to avoid receiving payment in Argentine Pesos.
- Check the applicable Reference Exchange Rate (Communication "A" 3500) on the trading day prior to payment to estimate the USD value.
- Ensure awareness of the 7% withholding tax applicable to earnings accrued after January 1, 2018.
- Confirm the specific procedures required by Caja de Valores S.A. or the respective broker/depositor for exercising the currency option.