Loma Negra Compania Industrial Argentina Sociedad Anonima current report, Q2 FY2022

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Business Context and Reporting Period

This Form 6-K filing by Loma Negra Compania Industrial Argentina Sociedad Anonima (Loma Negra) was submitted on April 14, 2022. The report discloses a relevant event concerning the Board of Directors' resolution to declare and distribute dividends to shareholders.

Key Financial Metrics

The filing details the following dividend metrics:

  • Total Dividend Amount: ARS 5,150,000,000.
  • Dividend Per Share: ARS 8.797388907640520 per outstanding share (excluding treasury shares).
  • Dividend Per ADS: ARS 43.986944538202600 per American Depositary Share.
  • Capital Stock Percentage: Equivalent to 879.7388907640520% of the nominal outstanding capital stock.
  • Funding Source: A portion of the Reserve for Future Dividends.

The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity metrics for the reporting period.

Material Changes

The primary material change disclosed is the declaration of a significant dividend payment. The filing does not provide comparative financial data against prior periods to quantify changes in operational performance.

Guidance, Outlook, and Payment Mechanics

Payment Schedule:

  • Payment Date: Available from April 26, 2022.
  • Record Date: The trading day immediately preceding the Payment Date.
  • Option Period for USD Payment: April 18, 2022, to April 22, 2022.
Payment Options:
  • Default: Payment in Argentine Pesos (ARS) via Caja de Valores S.A.
  • USD Option: Shareholders may elect to receive payment in US Dollars. This can be done via conversion of the ARS amount using the Central Bank of Argentina's Reference Exchange Rate (Communication "A" 3500) or via direct USD payment into a local or foreign bank account.
  • ADS Holders: Payments will be distributed through the Depositary Bank, Citibank N.A.
Tax Considerations:
  • Dividends are not subject to withholding tax under Argentine Law No. 27,430 as they correspond to tax-free accumulated earnings from years prior to January 1, 2018.
  • Withholding may apply for the Argentine Personal Assets Tax for fiscal year 2020 for applicable shareholders.

Investor Verification Checklist

  • Verify the Record Date to confirm eligibility for the dividend payment.
  • Confirm the deadline (April 22, 2022) to exercise the US Dollar Payment Option if holding shares directly or through a broker.
  • Check the specific exchange rate applicable on the trading day preceding the Payment Date for USD conversions.
  • Review personal tax status regarding the Argentine Personal Assets Tax for fiscal year 2020.
  • Confirm the specific procedures required by Caja de Valores S.A. or the respective broker for USD account notifications.