Banco Patagonia SA said Banco Central de la República Argentina has approved the company's dividend payment in cash worth about 1.78 billion Argentine pesos.
The payment, which corresponds to the bank's 2017 results, will be equivalent to about 2.47 pesos per share or about 49.44 pesos per Brazilian depositary receipt, or BDR.
The dividend will be paid May 30 to the company's common shareholders of record as of May 29.
Meanwhile, BDR holders of record as of May 21 will receive the payment June 11. They will be considered as ex-dividend on May 22.
In terms of the Brazilian currency, the dividend corresponds to about 7.43 reais per BDR, the bank said. The final amount to be paid to holders of BDRs will be declared June 4.
The dividend was approved by the company's shareholders on April 25.
As of May 15, US$1 was equivalent to 25.00 Argentine pesos and 3.67 reais.
