Enel Chile S.A. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on April 29, 2019, reports a significant event regarding the distribution of dividends for Enel Chile S.A. The filing pertains to the Ordinary Shareholders Meeting held on April 29, 2019, concerning the fiscal year ended December 31, 2018.
Key Financial Metrics
The filing details the approval of a total dividend distribution amounting to Ch$217,025,962,471 (Chilean Pesos), equivalent to Ch$3.137730 per share. This total comprises:
- Interim Dividend (No. 6): Already paid in January 2019, representing 8.65013% of 2018 net income.
- Final Dividend (No. 7): The remaining amount to be distributed is Ch$185,737,591,809, equivalent to Ch$2.685367 per share.
The final dividend is split into two components as per the attached forms:
- Definitive Minimum Dividend: Ch$77,224,610,573 total (Ch$1.11650 per share), representing 21.34987% of 2018 net income.
- Definitive Additional Dividend: Ch$108,512,981,236 total (Ch$1.56886 per share).
The combined dividends satisfy the legal requirement of distributing 30% of the net income for the fiscal year 2018. The filing does not provide data on revenue, operating profit, cash flow, margins, debt, or liquidity.
Material Changes and Payment Details
The primary material change is the authorization of the final dividend payment. Key payment details include:
- Record Date (Closing Date): May 11, 2019.
- Payment Date: May 17, 2019.
- Payment Method: Cash via bank transfer for authorized shareholders; nominative checks or bank drafts for others, payable at Banco de Crédito e Inversiones (BCI) or DCV Registros S.A.
- Number of Shares: 69,166,557,220 shares outstanding with rights.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or specific risk factors beyond standard regulatory disclosures. It notes that tax credit information regarding the dividend will be announced promptly to shareholders.
Investor Verification Checklist
- Verify the record date of May 11, 2019, to confirm eligibility for the Ch$2.685367 per share final dividend.
- Confirm the payment date of May 17, 2019, and the specific withdrawal procedures for check recipients at BCI branches.
- Monitor upcoming announcements regarding the specific tax credit implications of the dividend.
- Review the full 2018 annual report (Form 20-F) for the underlying net income figures that generated the 30% statutory dividend.