Business Context and Reporting Period
Company: Southern Copper Corporation (SCCO)
Filing Type: Form 8-K (Current Report)
Date of Report: July 19, 2024
Reporting Period: Second Quarter ended June 30, 2024
Context: This filing serves to announce the issuance of a press release regarding financial results for the second quarter of 2024 and the declaration of dividends by the Board of Directors.
Key Financial Metrics
The provided text does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are referenced as being contained within the attached press release (Exhibit 99.1) but are not detailed in the body of this Form 8-K.
Material Changes and Dividend Declaration
On July 18, 2024, the Board of Directors authorized the following distributions payable on August 26, 2024, to shareholders of record as of August 9, 2024:
- Cash Dividend: $0.60 per share of common stock.
- Stock Dividend: 0.0056 shares of common stock per share of common stock.
- Fractional Shares: Cash will be distributed in lieu of fractional shares based on a share price of $106.54 (the average of the high and low share price on July 18, 2024).
Guidance, Outlook, and Risks
The filing text does not provide specific management commentary, forward-looking guidance, risk factors, or contingencies beyond the announcement of the dividend and the reference to the attached press release. The document explicitly states that the information furnished is not deemed "filed" for purposes of Section 18 of the Securities Act of 1934 and will not be incorporated by reference into other filings except as expressly stated.
Investor Verification Checklist
- Review the attached press release (Exhibit 99.1) for detailed Q2 2024 financial results, including revenue, net income, and cash flow figures.
- Verify the record date (August 9, 2024) and payment date (August 26, 2024) for the declared dividends.
- Confirm the calculation of cash in lieu of fractional shares using the specified price of $106.54.
- Check subsequent filings for any updates to the financial outlook or operational risks not detailed in this summary.