Business Context and Reporting Period
This Form 6-K filing by Loma Negra Compania Industrial Argentina Sociedad Anonima (Loma Negra) reports on a relevant event: the Ordinary Shareholders' Meeting held on September 30, 2020. The meeting was conducted remotely due to the extension of the "social, preventive and mandatory isolation" lockdown in Argentina. The filing was submitted on October 2, 2020.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity for a specific reporting period. The primary financial data disclosed relates to a dividend distribution approved by shareholders.
- Total Dividend Amount: ARS 2,400,000,000.
- Dividend Per Share: ARS 4.026666667114074 per outstanding share.
- Dividend Per ADS: ARS 20.13333333557037 per American Depositary Share.
- Funding Source: All funds from the Reserve for Future Dividends and part of the funds from the Optional Reserve.
Material Changes
The filing does not disclose material changes in financial performance compared to prior periods. The significant event is the approval of the dividend payment terms and the utilization of specific reserve funds.
Guidance, Outlook, and Management Commentary
Dividend Payment Terms:
- Currency Options: Shareholders may receive dividends in Argentine Pesos (ARS) or elect to receive the equivalent in US Dollars (USD). The USD conversion is based on the Reference Exchange Rate of the Central Bank of the Argentine Republic (Communication "A" 3500) applicable on the trading day immediately preceding the Payment Date.
- Payment Date: Dividends will be available from October 14, 2020.
- Method: Payments will be processed through Caja de Valores S.A. into local or foreign bank accounts.
Corporate Actions: The Board of Directors was granted powers to determine specific terms and conditions for the payment, make clarifications, and handle necessary filings with the Public Registry of Commerce, CNV, BYMA, SEC, and NYSE.
Important Facts for Investors to Verify
- Confirm the exact USD amount received based on the Central Bank's Reference Exchange Rate on the trading day prior to October 14, 2020.
- Verify the tax implications of receiving dividends in ARS versus USD for non-resident shareholders.
- Check the status of the company's Optional Reserve following the partial allocation for this dividend.
- Monitor subsequent filings for any updates on the operational impact of the Argentine lockdown on future production and financial results.