Securities administration - Argentina


Income collection

Dividends are usually paid annually.

Interest is usually paid semi-annually, quarterly, or monthly. The CDV acts as paying agent in most cases. Income proceeds are available on PD or PD+1.

Market Record dateEx-dateBasis for entitlement
BondsPayment date -1Record date -2Settled and registered position on Record date
EquitiesPayment date -1Record date -2Settled and registered position on Record date

Corporate actions

The most common types of corporate actions are stock splits, cash and stock dividends, mergers, exchange and acquisition offers.

Corporate actions are usually announced before ex-date, however there is no official rules in terms of timing of announcement. There are no penalties to the issuing companies in case of notice changes.

Corporate actions entitlements are the same as for income collection as described above.

Proxy voting

Clearstream does not offer proxy voting services in this market. Voting in Argentina must be performed in person.

According to Resolution 7 issued by the Inspección General de Justicia, the Public Registry of Commerce (PRC) with jurisdiction in the City of Buenos Aires, foreign shareholders are required to be registered at the PRC. Otherwise, there could be objections to their attendance at shareholder meetings.

Further to the provisions of Resolution 465 from the Comisión Nacional de Valores (CNV - the equivalent to the Securities Exchange Commission in the U.S.A.), local issuers regulated by the CNV are under obligation to require that foreign shareholders provide evidence of their registration at the PRC (pursuant to Regulation 7) in order to allow such foreign shareholders to participate in shareholder meetings.

Market compensation rules

Foreign investors have the same rights as local investors in terms of entitlement. Please refer to the Entitlement Compensation Rules - Argentina.