Business Context and Reporting Period
This Form 6-K filing by Loma Negra Compania Industrial Argentina Sociedad Anonima (Loma Negra) was submitted on June 23, 2023. The document serves as an announcement regarding the Board of Directors' resolution to distribute dividends to shareholders.
Key Financial Metrics
The filing details a specific dividend distribution event rather than providing a full set of operational financial metrics such as revenue, profit, or cash flow.
- Total Dividend Amount: ARS 13,700,000,000.
- Dividend Per Share: ARS 23.47968399176 per outstanding share.
- Dividend Per ADS: ARS 117.3984199588 per American Depositary Share.
- Dividend Yield on Capital: Equivalent to 23,479.6839917662% of the outstanding capital stock.
- Funding Source: A portion of the Reserve for Future Dividends.
- Withholding Tax: 7% on earnings accrued after January 1, 2018, pursuant to Argentine Law No. 27,630.
The filing text does not provide clear values for revenue, operating profit, cash flow, margins, debt levels, or liquidity ratios.
Material Changes
The filing does not contain comparative financial data against prior periods to identify material changes in operational performance. The primary material event is the declaration of the dividend and the allocation of reserves to fund it.
Guidance, Outlook, and Payment Mechanics
Management has outlined the specific mechanics for the dividend payment, offering shareholders a choice in currency:
- Payment Date: July 4, 2023.
- Currency Options:
- Default: Argentine Pesos (ARS) via Caja de Valores S.A.
- US Dollar Option: Shareholders may elect to receive USD equivalent based on the Central Bank of the Argentine Republic Reference Exchange Rate (Communication "A" 3500) at the close of business on the trading day preceding the Payment Date.
- Option Period: June 26, 2023, to June 30, 2023. Shareholders must notify Caja de Valores S.A. during this window to exercise the USD option.
- ADS Holders: Will receive payments in USD through the Depositary Bank, JPMorgan Chase Bank, N.A.
The filing does not provide forward-looking guidance on future earnings, operational outlook, or specific risk factors beyond the standard tax implications mentioned.
Investor Verification Checklist
- Verify the Record Date (the trading day immediately preceding July 4, 2023) to confirm eligibility for the dividend.
- Confirm the deadline to exercise the US Dollar Payment Option (June 30, 2023) if currency conversion is desired.
- Check the specific procedures required by Caja de Valores S.A. or the respective broker/depositor to submit the Notice of Option of Payment in US Dollars.
- Review the applicable 7% withholding tax rate on the dividend portion derived from post-2018 earnings.
- Confirm the exchange rate mechanism (Communication "A" 3500) that will determine the USD conversion value.