Business Context and Reporting Period
Company: Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV), a domestic universal financial services group in Argentina.
Filing Type: Form 6-K (Report of Foreign Issuer).
Reporting Date: April 22, 2024.
Subject: Announcement of cash dividend payment following the Annual Ordinary and Extraordinary Shareholders Meeting and Board of Directors meeting held on April 19, 2024.
Key Financial Metrics
This filing focuses on capital distribution rather than operational performance metrics. Specific figures provided include:
- Total Dividend Amount: AR$ 19,469,438,271.64.
- Dividend per Share: AR$ 43.98165176140 per outstanding share.
- Dividend per ADS: AR$ 219.90825880698 per American Depositary Share.
- Dividend Yield on Capital: Equivalent to 4,398.165176140% of the capital (AR$ 442,671,830, excluding treasury shares).
- Source of Funds: Earnings from previous fiscal years (specifically originating from 2018).
Note: The filing text does not provide clear values for current period revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes and Dividend Details
The primary material event is the release of a voluntary reserve for dividend distribution. Key details include:
- Record Date: April 26, 2024.
- Payment Start Date: April 29, 2024 (or later as determined by applicable regulations).
- Currency Adjustment: Distribution is treated in the currency of the declaration date using the price index for March 2024, per General Resolution No. 777/18 of the Argentine Securities Commission.
- Payment Channels:
- Local shareholders: Caja de Valores S.A. (Buenos Aires).
- ADS holders: The Bank of New York Mellon (subject to foreign currency conversion rules).
Outlook, Risks, and Contingencies
Tax Withholding:
- Income Tax: Dividends are subject to a 7% withholding tax under the Income Tax Law (Decree No. 824/2019) as they originate from 2018 profits.
- Personal Assets Tax: Dividends may be subject to withholding for the Personal Assets Tax for the fiscal year 2023 for shareholders subject to said tax, acting as a Substitute Person Responsible.
Regulatory Compliance: Payment is subject to compliance with all required procedures and regulatory deadlines in the jurisdictions where shares are listed.
Investor Verification Checklist
- Verify the exact USD equivalent of the dividend based on the exchange rate applicable on the payment date for ADS holders.
- Confirm the specific tax withholding rates applicable to your jurisdiction and shareholder status (Income Tax vs. Personal Assets Tax).
- Check the official record date (April 26, 2024) to ensure eligibility for the distribution.
- Monitor announcements from The Bank of New York Mellon regarding the specific conversion date for ADS holders.