Business Context and Reporting Period
This Form 6-K filing by Loma Negra Compania Industrial Argentina Sociedad Anonima (Loma Negra) covers the period ending September 30, 2020. The document serves as an official announcement regarding the approval and payment of dividends following an Ordinary Shareholders Meeting held on that date.
Key Financial Metrics
- Dividend Payment: Total amount of ARS 2,400,000,000.
- Per Share Amount: ARS 4.026666667114074 per outstanding share.
- Per ADS Amount: ARS 20.13333333557037 per American Depositary Share.
- Dividend Yield on Capital: 402.6666667% of the nominal outstanding capital stock.
- Funding Source: Funds allocated from the Reserve for Future Dividends and part of the Optional Reserve.
- Revenue, Profit, and Cash Flow: The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes and Payment Mechanics
The primary material event is the declaration of a significant dividend payout. Shareholders have the option to receive payment in Argentine Pesos (ARS) or US Dollars (USD).
- Default Payment: Argentine Pesos via Caja de Valores S.A.
- USD Option: Shareholders may elect to receive USD equivalent based on the Central Bank of the Argentine Republic Reference Exchange Rate (Communication "A" 3500) applicable the day before the payment date.
- Payment Date: October 14, 2020.
- Option Period: October 5, 2020, to October 9, 2020.
Guidance, Risks, and Contingencies
The filing outlines specific operational and regulatory contingencies:
- COVID-19 Impact: If lockdown measures keep Caja de Valores S.A. facilities closed, shareholders must use telephone or email channels for filings.
- Taxation: Dividends are not subject to withholding tax under Argentine Law No. 27,430 as they correspond to tax-free accumulated earnings from years prior to January 1, 2018. However, withholding may apply for the Argentine Personal Assets Tax for fiscal year 2019 for applicable shareholders.
- Record Date: Shareholders registered at the close of business on the trading day immediately preceding the Payment Date are eligible.
- ADS Holders: Payments will be distributed through the Depositary Bank, Citibank N.A., according to applicable jurisdiction rules.
Investor Verification Checklist
- Confirm eligibility based on the Record Date (day before October 14, 2020).
- Verify the deadline to exercise the US Dollar Payment Option (October 5–9, 2020).
- Check the specific exchange rate (Communication "A" 3500) applicable on October 13, 2020, if electing USD payment.
- Confirm tax status regarding the Argentine Personal Assets Tax for fiscal year 2019.
- Ensure proper notification to brokers or depositaries if holding shares indirectly.