Business Context and Reporting Period
Southern Copper Corporation (SCCO) filed a Form 8-K on April 25, 2024, to announce financial results for the first quarter ended March 31, 2024. The company is incorporated in Delaware and trades on the New York Stock Exchange and Lima Stock Exchange.
Key Financial Metrics
This filing serves as a notification of results and a dividend declaration; it does not contain specific numerical data for revenue, profit, cash flow, margins, debt, or liquidity. The detailed financial metrics are contained in the attached press release (Exhibit 99.1), which is not included in the provided text.
Material Changes and Dividend Declaration
- Dividend Authorization: On April 18, 2024, the Board of Directors authorized a stock dividend of 0.0104 shares of common stock per share of common stock.
- Payment Details: The dividend is payable on May 23, 2024, to shareholders of record as of the close of business on May 8, 2024.
- Fractional Shares: Cash will be distributed in lieu of fractional shares based on a share price of $115.13 (the average of the high and low share price on April 18, 2024).
Guidance, Outlook, and Risks
The filing text does not provide specific guidance, outlook, management commentary, risks, contingencies, or unusual items beyond the announcement of the Q1 2024 results and the dividend. The information is furnished and not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
Investor Verification Checklist
- Verify the full Q1 2024 financial results (revenue, net income, EBITDA) in the attached press release (Exhibit 99.1).
- Confirm the record date (May 8, 2024) and payment date (May 23, 2024) for the stock dividend.
- Review the calculation of cash payments for fractional shares based on the $115.13 reference price.
- Check for any updated operational guidance or commodity price assumptions in the full press release.