Business Context and Reporting Period
Company: Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV)
Filing Type: Form 6-K (Report of Foreign Issuer)
Date: April 22, 2024
Context: The filing announces the payment of cash dividends following resolutions from the Annual Ordinary and Extraordinary Shareholders Meeting and the Board of Directors held on April 19, 2024. The Company is a domestic universal financial services group in Argentina.
Key Financial Metrics
Dividend Declaration:
- Total Cash Dividend: AR$ 19,469,438,271.64
- Dividend per Share: AR$ 43.98165176140
- Dividend per ADS: AR$ 219.90825880698
- Dividend Yield on Capital: 4,398.165176140% of capital (AR$ 442,671,830)
Source of Funds: Earnings from previous fiscal years (specifically originating from 2018).
Other Metrics: The filing text does not provide clear values for current period revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
This filing does not report operational or financial performance changes versus a prior comparable period. It solely reports the release of a voluntary reserve for dividend distribution.
Guidance, Outlook, and Risks
Payment Schedule:
- Record Date: April 26, 2024
- Payment Start Date: April 29, 2024 (via Caja de Valores S.A.)
- ADS Payment: Via The Bank of New York Mellon, subject to foreign currency conversion regulations.
Tax and Regulatory Considerations:
- Withholding Tax: Subject to a 7% withholding tax under the Income Tax Law (Decree No. 824/2019) as profits originate from 2018.
- Personal Assets Tax: Dividends may be subject to withholding for Personal Assets Tax paid by the Company as a Substitute Person Responsible for fiscal year 2023.
- Currency Indexation: Distribution is treated using the price index corresponding to March 2024 per General Resolution No. 777/18 of the Argentine Securities Commission.
Investor Verification Checklist
- Verify the Record Date (April 26, 2024) to ensure eligibility for the dividend.
- Confirm the 7% withholding tax implication on the gross dividend amount.
- Check with the depositary bank (The Bank of New York Mellon) for specific USD conversion rates and payment dates for ADS holders.
- Review the Company's 20-F or 40-F filings for detailed financial statements regarding the "earnings of previous fiscal years" referenced as the source of funds.