Shareholders Approve AR$69B Dividend Proposal and Grant Board Authority for Bond Issuance

summarizeSummary

Shareholders approved a proposal for an AR$69 billion dividend, pending Central Bank approval, and amended bylaws to allow the Board to issue corporate bonds without shareholder consent.

check_boxKey Events

• Dividend Proposal Approved

  Shareholders approved the partial write-off of AR$ 69,011,025,123 (as of March 31, 2026) from the optional reserve for future distribution, for a cash and/or in-kind dividend. This distribution is subject to prior authorization from the Argentine Central Bank.

• Bylaws Amended for Bond Issuance

  Article 15, Subsection L, of the corporate bylaws was amended to grant the Board of Directors the power to approve the issuance of negotiable obligations (corporate bonds) and create global issuance programs without requiring a shareholders' meeting.

• FY 2025 Financials Approved

  The Integrated Annual Report, Financial Statements, and other accounting information for fiscal year 2025 were approved.

• Board and Supervisory Committee Elections

  Directors and members of the Supervisory Committee were elected and re-elected, with mandates extending to December 31, 2028, for some directors and December 31, 2026, for the Supervisory Committee.

auto_awesomeAnalysis

The Annual General Meeting's approval of a significant dividend, representing approximately 2.2% of the company's market capitalization, signals a commitment to returning capital to shareholders. While subject to Central Bank authorization, this is a strong positive indicator. Concurrently, the amendment to the bylaws, empowering the Board to issue corporate bonds without requiring shareholder approval, provides the company with enhanced financial flexibility and agility in capital raising, which is a material governance change.