Grupo Supervielle S.A. current report, Q2 FY2022

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Business Context and Reporting Period

Company: Grupo Supervielle S.A. (NYSE: SUPV; BYMA: SUPV)
Reporting Date: May 5, 2022
Business Description: A domestic universal financial services group in Argentina with a nationwide presence.
Filing Purpose: Announcement of the payment of cash dividends following the Annual Ordinary Shareholders Meeting held on April 27, 2022.

Key Financial Metrics

The filing focuses on dividend distribution rather than operational financial performance metrics such as revenue, profit, or cash flow for the current period.

  • Total Dividend Amount: P$ 293,080,487.62
  • Dividend Yield on Capital: 64.170388331% of outstanding capital
  • Dividend Per Share: P$ 0.64170388331
  • Dividend Per ADS: P$ 3.20851941655
  • Earnings Source: Profits from previous fiscal years (specifically originating from 2018).

Material Changes

The filing does not provide comparative financial data or material changes in operational metrics versus prior periods. The primary material event is the release of the voluntary reserve established for future dividend distribution approved by the Board of Directors on May 5, 2022.

Guidance, Outlook, and Risks

Payment Schedule:

  • Record Date: May 16, 2022
  • Payment Start Date: May 17, 2022
  • Payment Method: Via Caja de Valores S.A. for local shareholders and The Bank of New York Mellon for ADS holders.
Tax and Regulatory Considerations:
  • Withholding Tax: Subject to a 7% withholding tax under the Income Tax Law (Decree No. 824/2019) as the profits originate from 2018.
  • Personal Assets Tax: Dividends may be subject to withholding for the Personal Assets Tax for applicable shareholders.
  • Currency Adjustment: Distribution calculated in accordance with General Resolution No. 777/18 of the Argentine Securities Commission, using the price index corresponding to the month prior to the shareholders' meeting.
Outlook: The filing text does not provide forward-looking guidance on revenue, earnings, or market conditions.

Investor Verification Checklist

  • Verify the Record Date (May 16, 2022) to confirm eligibility for the dividend payment.
  • Confirm the specific withholding tax implications (7%) for the shareholder's jurisdiction and tax status.
  • Check the payment availability window (10:00 AM to 3:00 PM Buenos Aires time) starting May 17, 2022.
  • Review the conversion rate between local shares and ADSs to validate the P$ 3.20851941655 per ADS figure.
  • Monitor subsequent filings for the impact of the voluntary reserve release on the company's liquidity position.