CRESUD INC. Form 6-K Summary
Business Context and Reporting Period
CRESUD S.A.C.I.F. and A. (CRESUD), an Argentine agro-industrial and financial company, filed this Form 6-K on October 28, 2024. The filing reports on a resolution passed at the Ordinary and Extraordinary General Shareholders' Meeting held on the same date regarding a cash dividend distribution for the fiscal year ended June 30, 2024.
Key Financial Metrics
The filing focuses exclusively on dividend distribution details rather than operational financial performance metrics such as revenue, profit, or cash flow.
- Total Dividend Amount: ARS 45,000,000,000
- Dividend Yield on Share Capital: 7,527.253613523%
- Shares Eligible: 597,827,605
- Dividend Per Share: ARS 75.27253613523
- Dividend Per ADS: ARS 752.7253613523
Material Changes
The primary material event is the declaration of a substantial cash dividend charged to the fiscal year ended June 30, 2024. The filing does not provide comparative financial data against prior periods to assess changes in revenue, margins, or debt levels.
Guidance, Outlook, and Risks
Payment Schedule: Dividends will be made available as of November 7, 2024, or a later date depending on jurisdictional regulations. The record date for eligibility is November 5, 2024.
Taxation: The distribution is subject to a 7% withholding tax under Article 97 of the Income Tax Law. This tax will be deducted directly from the cash dividend payment.
Management Commentary: The filing contains no forward-looking guidance, risk factors, or management commentary regarding future business operations beyond the dividend mechanics.
Investor Verification Checklist
- Verify the record date of November 5, 2024, to ensure share ownership eligibility.
- Confirm the net dividend amount after the mandatory 7% withholding tax deduction.
- Check with The Bank of New York Mellon for specific payout dates for ADS holders, as these may differ from local shareholders.
- Review the company's 20-F or other financial reports for the fiscal year ended June 30, 2024, to understand the source of funds for this dividend, as this filing does not provide operational financials.