Business Context and Reporting Period
This Form 6-K filing by Banco BBVA Argentina S.A. covers the period ending June 30, 2024. The document serves as a formal notice regarding the payment of the second installment of a three-part dividend distribution approved by the General Shareholders' Meeting on April 26, 2024, and authorized by the Argentine Central Bank on May 3, 2024.
Key Financial Metrics
- Dividend Payment (Installment 2): AR$ 48,608,661,500.42 total.
- Per Share Amount: AR$ 237.2030389704 per share.
- Participating Capital: 33.44555362% of share capital (V/N 204,924,278 shares).
- Total Approved Dividend (Homogeneous Currency): AR$ 400,627,017,508 (adjusted from AR$ 264,227,684,640 as of December 31, 2023).
- Tax Withholding: 7% applicable under Article 97 of the Income Tax Law.
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting period.
Material Changes
The filing details the execution of a dividend payment plan rather than operational changes. The total dividend amount has been adjusted for inflation from the December 31, 2023 baseline to the current homogeneous currency value. This installment specifically targets shareholders who did not opt for payment in BOPREAL bonds during the first installment.
Guidance, Outlook, and Payment Terms
Payment Schedule:
- Cut-Off Date: June 6, 2024.
- Payment Date: June 11, 2024.
Payment Options:
- Resident Shareholders: Default payment in pesos. Option to receive National Treasury Bonds (CER 4.25% due December 13, 2024, Ticker T5X4) by emailing corporateactions-arg@bbva.com by June 6, 3:00 p.m.
- Non-Resident Shareholders: Default payment in pesos. Option to receive the same National Treasury Bonds by the same deadline.
- ADS Holders: Payments distributed via Bank of New York Mellon; dates may differ based on jurisdiction rules.
Contingencies: The "Payment in Kind" option applies to the entire share position and cannot be executed partially. Shareholders must be registered on the Cut-Off Date to receive payment.
Investor Verification Checklist
- Verify share ownership status as of the June 6, 2024 Cut-Off Date.
- Confirm if the 7% tax withholding has been applied to the gross dividend amount.
- Check the market price of the T5X4 bonds on June 10, 2024, if opting for Payment in Kind.
- Ensure instructions for Payment in Kind were submitted to corporateactions-arg@bbva.com before the June 6, 3:00 p.m. deadline.
- Confirm receipt of funds or bonds by the June 11, 2024 Payment Date.