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Banco Macro to propose dividend payment

Banco Macro SA's board will propose in a shareholders meeting a dividend of about 3.35 billion Argentine pesos, via the partial write-off of the optional reserve fund for future distribution of profits.

The distribution amounts to 5 pesos per share, according to a Form 6-K filed March 9.

As of March 8, US$1 was equivalent to 20.38 Argentine pesos.