Enel Chile S.A. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on May 16, 2018, reports a significant event regarding the distribution of the definitive dividend for the fiscal year ended December 31, 2017. The filing supplements a previous announcement dated April 25, 2018, to provide final calculations based on the share count as of May 12, 2018.
Key Financial Metrics
The filing details the payment of the 2017 definitive dividend, which consists of two components: the mandatory minimum dividend and an additional dividend. The total definitive dividend approved was Ch$ 192,160,453,281. After deducting the interim dividend paid in January 2018, the remaining amount to be distributed is Ch$ 155,025,509,218.
- Total Shares Outstanding: 69,166,557,219 (as of May 12, 2018)
- Dividend Payment Date: May 18, 2018
- Currency: Chilean Pesos (Ch$)
Material Changes and Dividend Breakdown
The filing clarifies the specific per-share amounts for the two components of the definitive dividend, calculated based on the final share count:
- Definitive Minimum Dividend (Legal Requirement): Ch$ 0.97851 per share (Total: Ch$ 67,679,848,636). This represents 19.37127% of the 2017 net income.
- Definitive Additional Dividend: Ch$ 1.26283 per share (Total: Ch$ 87,345,660,582). This represents 25% of the 2017 net income.
- Total Remaining Dividend Per Share: Ch$ 2.24134
Combined with the interim dividend paid in January 2018 (10.62873% of net income), the total distribution equals 30% of the 2017 net income for the mandatory portion, plus the additional 25%.
Management Commentary and Risks
Management notes that the dividend calculation was finalized after the conclusion of a 30-day preemptive subscription period (February 15 to March 16, 2018) and the resolution of certain withdrawal rights. The filing states that tax credits associated with the dividend will be announced promptly. Payment will be made via bank transfer for authorized shareholders or via check/bank draft for others, payable starting May 18, 2018.
Investor Verification Checklist
- Verify the exact number of shares held as of the closing date of May 12, 2018, to confirm dividend entitlement.
- Confirm bank account details with the Central Securities Depositary (DCV Registros S.A.) to ensure timely electronic transfer.
- Monitor for the upcoming announcement regarding applicable tax credits.
- Note that the filing does not provide specific revenue, profit, or cash flow figures for the 2017 fiscal year, only the dividend percentages derived from net income.