Cementos Pacasmayo S.A.A. Announces Key Resolutions from Annual Shareholders’ Meeting
Cementos Pacasmayo S.A.A., a leading cement producer serving the Peruvian construction sector, announced the resolutions adopted during its Annual Mandatory Shareholders’ Meeting held on March 24, 2026, at 9:00 a.m. (Peruvian time), conducted in accordance with the Peruvian Securities Market Law Resolution for Material Events and Reserved Information No. 005-014-SMV/01, where shareholders reviewed and approved a range of strategic, financial, and governance matters critical to the company’s ongoing operations and long-term growth strategy
Election and Composition of the Board of Directors
During the meeting, shareholders approved the structure and composition of the Board of Directors, determining that the board will consist of seven members for the 2026–2028 term, with approval secured by a strong majority vote of 92.09%, reinforcing confidence in the company’s governance framework and leadership continuity while ensuring alignment with corporate objectives and stakeholder interests
The newly elected Board members include Ana Maria Botella Serrano, Esteban Chong Leon, Eduardo Hochschild Beeck, Ana Sofia Hochschild Correa, Venkat Krishnamurthy, Jose Raimundo Morales Dasso, and Humberto Reynaldo Nadal Del Carpio, all of whom will serve from their appointment until the Annual Shareholders’ Meeting that approves the financial statements for the fiscal year ending December 31, 2028, thereby providing stability and strategic oversight for the company over the next three years
Approval of Financial Statements and Corporate Reports
A key resolution passed during the meeting was the approval of the audited financial statements as of December 31, 2025, which received a majority vote of 69.62%, along with the external auditors’ report, opinion, and accompanying notes, demonstrating shareholder confidence in the company’s financial transparency and reporting standards while complying with regulatory requirements and international accounting principles
In addition to the financial statements, shareholders also approved the Corporate Management Report and the Integrated Annual Report for the 2025 fiscal year, which includes the Corporate Governance Report and the Sustainability Report, offering a comprehensive overview of the company’s operational performance, governance practices, and sustainability initiatives, all of which will be made publicly available through the company’s official website to ensure transparency and accessibility for investors and stakeholders
Dividend Distribution Ratification
The shareholders ratified the dividend distribution carried out during the 2025 fiscal year, approving the total payout of S/ 190,300,410.65 with a strong majority vote of 85.78%, reflecting the company’s commitment to delivering value to its shareholders while maintaining a balanced approach to capital allocation and financial stability
The dividend distribution was executed at a rate of S/ 0.41 per common and investment share, charged against retained earnings as of December 31, 2024, with a portion amounting to S/ 14,776,603.76 corresponding to treasury shares held by the company, thereby remaining within the company’s equity, while the dividend distributed to third-party shareholders totaled S/ 175,523,806.89, highlighting the scale of returns delivered to external investors
Allocation of Profits and Dividend Policy for 2026
Another significant resolution involved the allocation of profits for the 2025 fiscal year, where shareholders approved by a majority of 69.70% that the profits be applied to the “Retained Earnings” account, ensuring the company maintains sufficient reserves to support future investments, operational needs, and strategic initiatives while strengthening its financial position
Furthermore, the shareholders delegated authority to the Board of Directors to approve and execute dividend payments charged to retained earnings, including the possibility of advance dividends against the 2026 fiscal year, providing flexibility in capital management and enabling the company to respond effectively to evolving market conditions and shareholder expectations
ESG and Sustainability Commitments
The Annual Shareholders’ Meeting also addressed the company’s Environmental, Social, and Governance (ESG) initiatives, approving the ESG report with a majority vote of 83.84%, underscoring the company’s commitment to sustainable development, responsible corporate practices, and long-term value creation for all stakeholders
The approved report highlights key areas such as the company’s focus on sustainability and climate risk management, commitments to reducing emissions and achieving carbon neutrality, promotion of gender equity and diversity within the workforce, and the implementation of reporting frameworks that identify risks and opportunities related to climate change, reflecting a proactive approach to addressing global environmental challenges and aligning with international sustainability standards
Disclosure of Holcim Acquisition-Related Expenses
During the meeting, the company disclosed details regarding expenses associated with the Holcim acquisition, which were included in the audited financial statements, with payments totaling S/ 5,904,535.66 made to legal, tax, and financial advisors involved in the transaction, providing transparency into the costs associated with strategic business activities
In relation to these expenses, Eduardo Hochschild Beeck, the company’s controlling shareholder, expressed his intention to reimburse the company for the full amount paid to advisors, demonstrating a commitment to corporate responsibility and reinforcing trust among shareholders by addressing concerns related to transaction-related expenditures
Compliance with Financial Reporting Standards
Cementos Pacasmayo S.A.A. reaffirmed its obligation to prepare and present consolidated financial information to the Superintendence of the Securities Market in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board, ensuring that its financial disclosures meet globally recognized standards for accuracy, consistency, and transparency while supporting investor confidence and regulatory compliance
Strengthening Corporate Governance and Transparency
The resolutions adopted during the Annual Shareholders’ Meeting highlight the company’s strong commitment to corporate governance, transparency, and accountability, as evidenced by the approval of comprehensive reports, clear dividend policies, and the election of a qualified Board of Directors, all of which contribute to maintaining investor confidence and supporting sustainable business growth in a competitive market environment
About Cementos Pacasmayo S.A.A.
Cementos Pacasmayo S.A.A. is a leading cement company based in the northern region of Peru, with nearly 70 years of operational history in the production, distribution, and sale of cement and related construction materials such as concrete blocks and ready-mix concrete, serving one of the fastest-growing sectors of the Peruvian economy
The company’s shares have been listed on the New York Stock Exchange since February 2012 under the ticker symbol CPAC, reflecting its position as a publicly traded entity with international investor participation, while its diversified product portfolio also includes quicklime used in mining operations, further expanding its role within the industrial and infrastructure sectorsThe outcomes of the 2026 Annual Mandatory Shareholders’ Meeting demonstrate Cementos Pacasmayo S.A.A.’s continued focus on financial discipline, shareholder value, and sustainable growth, with key approvals related to financial reporting, dividend distribution, governance structure, and ESG initiatives reinforcing its strategic direction and operational resilience, positioning the company to navigate evolving market dynamics while maintaining its leadership role in the Peruvian construction industry and delivering long-term value to its stakeholders
Source link:https://www.businesswire.com/
