Banco BBVA Argentina S.A. announces dividend payment
Banco BBVA Argentina S.A. (BBAR) announced a dividend payment of AR$ 1,097,100,750, translating to AR$ 1.7905707570 per share, following approvals from its General Meeting and Board of Directors. The payment is scheduled for December 6, 2022, with the record date set for December 5, 2022. Local shareholders will receive dividends in Argentine Pesos, while non-resident shareholders may opt for payments in securities or Pesos depending on their notifications. No withholding tax will be applied as dividends are from tax-free profits accrued before January 1, 2018.
- Dividend payout of AR$ 1,097,100,750 shows financial strength.
- No withholding tax on dividends enhances shareholder value.
- Non-resident shareholders face complexities in dividend payment options.
- Currency fluctuations may impact the value of dividends for non-local investors.
BUENOS AIRES, Argentina, Nov. 18, 2022 /PRNewswire/ -- Banco BBVA Argentina S.A (NYSE; BYMA; MAE: BBAR; LATIBEX: XBBAR) announced today the approval of dividend payment
The Shareholders of Banco BBVA Argentina S.A. are hereby informed that in accordance with the decision taken by the Ordinary and Extraordinary General Meeting held on April 29, 2022, and the Meeting of the Board of Directors held on June 16, 2022, in relation to installment 12, from December 6, 2022 ("Payment Date"), a dividend in the amount of AR
In this regard, it is reported that:
i) The payment of the dividend to all Local Shareholders shall be made in Argentine Pesos through the Caja de Valores S.A located at 362, 25 de Mayo St., Buenos Aires City; on working days from 10:00 to 15:00 hours, where all requirements, formalities and settlements shall be met in accordance with the regulatory deadlines.
ii) The payment of the dividend to non-resident shareholders shall be made with securities, unless (a) they state their decision to receive it in Argentine pesos, or (b) they do not inform within the periods described below, the custodial accounts necessary to make the payment with movable securities, in which case they shall receive Argentine pesos.
a) Non-Resident Shareholders wishing to receive the following negotiable instrument: BOND TREASURY $ (Argentine currency) Adjustable by the Reference Stabilizing Ratio [AJ. CER ] 1,
Such notice shall be served on working days within the aforementioned period, from 10:00 to 15:00 hours, to Banco BBVA Argentina S.A. Att. Ezequiel Serra - addressed to email (ezequiel.serra@bbva.com), at 111, Córdoba Av., 26th Floor, Buenos Aires City, stating beneficiary, number of principal and depositor of Caja de Valores S.A. or identification in the Register of Shareholders carried out by the Registration Agent: Caja de Valores S.A., bank abroad to transfer the securities, account number, reference and any other information necessary for the correct crediting of the net dividend.
It is hereby stated that in case of failure to receive the notification with the required information within the period informed, before December 5, 2022 the Bank shall pay the dividend in Argentine pesos according to the procedure reported in point b) below.
b) On the other hand, non-resident shareholders who choose to receive Argentine pesos must send written notice to that effect from November 18 to December 5, 2022 included, on working days within that period, from 10:00 to 15:00 hours, addressed to Banco BBVA Argentina S.A. - Att. Ezequiel Serra addressed to email (ezequiel.serra@bbva.com), at 111, Córdoba Av., 26th Floor, Buenos Aires City, and the funds shall be credited through the Caja de Valores S.A located at 362, 25 de Mayo St,, Buenos Aires City; on working days from 10:00 to 15:00 hours, where all formalities and settlements shall be met in accordance with the regulatory deadlines.
Upon any inquiry or request address to: Caja de Valores S.A Phone: 0810-888-7323 or email registro@cajadevalores.com.ar.
Holders of American Depositary Shares (ADS) shall receive payment through the depositary bank, Bank of New York Mellon, as from the date determined by the rules governing the jurisdiction in which the Company's ADS is listed.
It is expressly established that the holdings of shares of the Shareholders registered at the Record Date shall be the only ones taken into account for the purpose of paying the declared dividend. Notices made by those who do not turn out to be holders of Bank shares at the Record Date shall be deemed not to have been filed and shall be null and void.
It is reported that, in accordance with the provisions of Law N° 27.430, amendment of Law N° 20.628 of Income Tax (third section without added number after section 90), no withholding tax is applicable since the dividends distributed correspond to accrued tax-free profits from periods prior to the beginning of January 1, 2018.
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SOURCE Banco BBVA Argentina S.A.
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