LIMA, Peru--(BUSINESS WIRE)--Cementos Pacasmayo S.A.A. (NYSE: CPAC) (BVL: CPACASC1) (“the Company” or “Cementos Pacasmayo”) announced on September 24th, 2018 that the Company's Board of Directors in its session held on the same day approved a cash dividend of S/ 0.377 per common and investment share, which represents a total of S/ 174,983,548.31 related to retained earnings as of December 31, 2014, in accordance with what was authorized at the Annual Shareholder’s Meeting held on March 27, 2018. This dividend represents 25.11% of the Company’s retained earnings as of December 31, 2014 and 85.16% of the retained earnings remaining after deducting the dividends paid during 2015, 2016 and 2017 without including the corresponding dividends to the shares in treasury. If the treasury shares are included in such percentage it would represent 76.51% of the remaining retained earnings as of December 31 2014.
Since the Company holds 36,040,497 investment shares as treasury shares, the dividend per share of S/0.377 that corresponds to these shares and which totals S/13,587,267.37 as a result of the mentioned distribution will remain in the Company's equity, so that the total dividend distributed without considering such treasury shares is S/161,396,280.94.
Considering that each ADR represents five common shares, the cash dividend equivalent per ADR is S/ 1.885. For the payment of the ADRs, the Company will pay CAVALI the amount of the corresponding dividend to the ADR program in national currency. CAVALI will afterwards deposit said amount in favor of: JP MORGAN CHASE BANK N.A. FBO HOLDERS OF ADRS on the same date established for the distribution of the dividend in the domestic market. JP MORGAN CHASE BANK N.A is the entity responsible for making the payment to each of the holders of ADRs under the conditions of currency, distribution factor, stipulations and other regulations that correspond.
The dividend will be paid as follows:
COMMON SHARES: CPACASC1
Outstanding common shares: 423,868,449
Dividend per common share:
S/ 0.3770
Each ADR represents five common shares
INVESTMENT SHARES: CPACASI1
Outstanding Investment shares:
40,278,894
Dividend per common share: S/ 0.3770
Earnings Distribution Concept: 2014-Retained Earnings,
Value Type:
CPACASC1 COMMON SHARES
Register Date: 09/11/2018
Value Type: CPACASC1 COMMON SHARES
Distribution Date: 29/11/2018
Value Type: CPACASI1 INVESTMENT SHARES
Register Date: 09/11/2018
Value Type: CPACASI1 INVESTMENT SHARES
Distribution Date: 29/11/2018
Observations: The cut-off dates (07.11.2018), registration (09.11.2018), are the same for the common shares and investment shares listed on the Lima Stock Exchange and ADR listed on the New York Stock Exchange.
About Cementos Pacasmayo S.A.A.
Cementos Pacasmayo S.A.A. is a Peruvian cement company located in the Northern region of Peru. In February 2012, the Company’s shares were listed on The New York Stock Exchange - Euronext under the ticker symbol "CPAC". With more than 60 years of operating history, the Company produces, distributes and sells cement and cement-related materials, such as concrete blocks and ready-mix concrete. Cementos Pacasmayo’s products are primarily used in construction, which has been one of the fastest-growing segments of the Peruvian economy in recent years. The Company also produces and sells quicklime for use in mining operations.
For more information, please visit: http://www.cementospacasmayo.com.pe
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.