Bancolombia S.A. Announces Approval by the General Shareholders Meeting of Distribution of 2009 Profits
MEDELLIN, Colombia, March 1 /PRNewswire-FirstCall/ -- Today, at the annual general shareholders meeting of Bancolombia S.A. ("Bancolombia") (NYSE: CIB), the shareholders of Bancolombia approved (i) the financial statements for the year ended December 31, 2009, along with the accompanying notes and management discussion and (ii) the proposed distribution of profits presented by the board of directors, pursuant to which a dividend of Ps. 636.80 per share was declared. The dividend will be paid as follows: Ps. 159.20 per share every calendar quarter on the first business day of each such calendar (April 5th, July 1st, and October 1st 2010, and January 3rd, 2011).
This dividend represents an increase of 2.05% compared to the dividends paid in 2009 and 91.80% of the amount to be paid as dividends will be tax free to the shareholder under Colombian regulations.
The shareholders also approved an increase in legal reserves of Ps. 411,646 million.
Contacts |
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Sergio Restrepo |
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Executive VP |
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Tel.: (574) 4041424 |
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Jaime A. Velasquez |
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Financial VP |
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Tel.: (574) 4042199 |
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Juan E. Toro |
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IR Manager |
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Tel.: (574) 4041837 |
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SOURCE Bancolombia S.A.
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