Business Context and Reporting Period
Macro Bank Inc. (Banco Macro) filed a Form 6-K on February 25, 2026, reporting a relevant event regarding the Board of Directors' resolution to propose dividend distribution to shareholders. The financial data referenced pertains to the fiscal year ended December 31, 2025, expressed in constant Argentine Pesos (AR$).
Key Financial Metrics
- Retained Earnings (FY 2025): AR$ 290,438,875,537.79 (constant currency as of Dec 31, 2025).
- Proposed Dividend Pool: Up to AR$ 300,000,000,000 (utilizing retained earnings and the Optional Reserve Fund).
- Dividend Per Share: AR$ 469.1969827049.
- Dividend Yield on Capital: 46,919.6982% of the capital stock (AR$ 639,390,301).
- Withholding Tax: 7% under Argentine Income Tax Law.
Material Changes and Allocations
The Board resolved to allocate the 2025 retained earnings as follows:
- Legal Reserve Fund: AR$ 57,898,528,529.31.
- Personal Asset Tax: AR$ 13,680,229,087.73.
- Optional Reserve Fund: AR$ 218,860,117,920.75.
The filing indicates a significant proposed payout, combining retained earnings with a partial release of the Optional Reserve Fund for Future Distribution of Profits. The Board explicitly resolved not to propose profit capitalization or monetary adjustments to capital.
Guidance, Outlook, and Contingencies
The dividend payment is subject to prior authorization by the Banco Central de la República Argentina. The Board has been delegated the authority to determine the payment date, currency, and whether the dividend will be paid in cash, in kind (valued at market price), or a combination of both. No specific guidance on future revenue or operational outlook was provided in this filing.
Investor Verification Checklist
- Confirm receipt of authorization from the Banco Central de la República Argentina for the dividend release.
- Verify the final determination of payment method (cash vs. in-kind) and currency by the Board.
- Review the specific date set for the Shareholders' Meeting to approve these motions.
- Assess the impact of the 7% withholding tax on net investor returns.