Business Context and Reporting Period
Macro Bank Inc. filed Form 6-K on March 10, 2016, to report a corporate action regarding the payment of a cash dividend. The filing translates a submission to the Comisión Nacional de Valores (CNV) in Argentina. The dividend payment is scheduled to commence on March 29, 2016, for shareholders of record as of March 28, 2016.
Key Financial Metrics
- Cash Dividend Total: AR $227,708,000
- Dividend Per Share: AR $0.3895
- Outstanding Corporate Capital: AR $584,563,028
- Dividend Yield on Capital: 38.95%
- Source of Funds: Income generated during the fiscal year 2011
- Tax Withholding: Applicable Income Tax withholdings under Law 26,893 will be deducted; the distribution is exempt from the additional 35% withholding under Argentine Income Tax Law.
The filing does not provide current period revenue, profit, cash flow, margins, debt, or liquidity metrics.
Material Changes
This filing does not report material changes in financial performance compared to a prior period. It solely announces the execution of a dividend payment approved by the General and Special Shareholders' Meeting on April 23, 2015, and authorized by the Central Bank of the Republic of Argentina on February 25, 2016.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies. The only operational detail provided is the logistics for payment: funds will be available at Caja de Valores S.A. in Capital Federal from March 29, 2016, on weekdays between 10 am and 3 pm.
Investor Verification Checklist
- Verify the record date of March 28, 2016, to confirm eligibility for the dividend.
- Confirm the payment date of March 29, 2016, and the location (Caja de Valores S.A.) for fund collection.
- Review the impact of Law 26,893 on the net dividend amount received after income tax withholdings.
- Note that the dividend is derived from 2011 income, which may indicate a delay in distribution relative to earnings generation.