Grupo SURA proposes a 15% increase in dividends, based on the results of its ongoing strategy
- In 2013 the Company's year-end net profits rose by 43.2% to COP 781,794 million (USD 405.7 million), COP 188,147 million of which were obtained in Q4.
- Based on this level of results, the Company's Board of Directors shall present for the consideration of the General Shareholders Meeting to be held next March 27, a proposal for the Company's dividend to be set at COP 390 per share, which represents an increase of 15.05%.
- Mr. Carlos Enrique Piedrahita Arocha announced that he would be standing down from the Company's Board of Directors given his upcoming retirement.
MEDELLIN, Colombia, March 3, 2014 /PRNewswire/ -- Grupo SURA has now released its results for Q4 2013, having obtained growths of 38.3% in revenues and 43.2% in profits. This good level of performance shall allow its Board of Directors to present for the consideration of the General Assembly of Shareholders a proposal to set the current dividend for the Company's common stock at COP 390 per share. This represents an increase of 15.05% compared to the previous dividend payment.
As the market is well aware, the Company's preferred shares command a dividend equal to 3% of their respective subscription price, payable from November 30, 2011 to November 30, 2014. Thereafter, preferred shares shall earn the same dividend as for the Company's common shares, providing this is greater than 0.5% of their subscription price. Consequently, Grupo SURA shall be paying out a total of COP 255,498 million (USD 133 million) in shareholder dividends.
"We are very pleased with the level of performance obtained thus far, since this effectively substantiates the strength of the strategy we have been implementing over recent years. Our traditional investments as well as those relating to our expansion plans have shown an excellent performance allowing us to propose a significant increase in shareholder dividends.. We are very happy to be able to provide our shareholders with the results of a company which continues to grow at a sustainable pace," stated David Bojanini, Chief Executive Officer of Grupo SURA.
Perhaps the most salient of last year's overall results were net profits totaling COP 781,794 million (USD 405.7 million), with those corresponding to Q4 (October to December 2013) amounting to COP 188,147 million (USD 97.6 million) which represented a YoY increase of 116.4 %.
The performance shown by Grupo SURA's portfolio companies, especially those included in its strategic focus, such as Suramericana, SURA Asset Management and Bancolombia, had the most impact on Grupo SURA's results, both from the dividend as well as equity method standpoints, having obtained total revenues of COP 924,511 million (USD 479.8 million). Grupo Sura's assets at year-end 2013 came to COP 21.1 billion (USD 10.9 billion) with shareholders' equity ending up at COP 20.3 billion (USD 10.5 billion), both showing declines of 2.9% and 2.4% respectively compared to the previous year; this due to the stock market performance of some companies belonging to Grupo SURA's investment portfolio.
Grupo SURA continued focused on reducing its liabilities, which effectively dropped by 5.0% for Q4 for a total year-end decline of 14.1%.
On the other hand, Mr. Carlos Enrique Piedrahita Arocha, who has been a member of Grupo SURA's Board of Directors since 2000, announced that he would be standing down as of March 27 of this year, given his upcoming retirement. The Company's Board of Directors and Senior Management, thanked Mr. Piedrahita for his invaluable contributions during his tenure emphasizing his leadership, global business vision and marked sensitivity to humanitarian and social issues.
Finally, Grupo Sura's Board of Directors gave their authorization for notice to be given of the General Shareholders Meeting to be held in Medellin on March 27 at 10:00 am.
About Grupo SURA
Grupo de Inversiones Suramericana –GRUPO SURA- is a Latin American company listed on the Colombian Stock Exchange and registered with the ADR- Level 1 program in the United States. . We are also the only Latin American corporation from the miscellaneous financial service sector to be admitted to the Dow Jones Sustainability Index (DJSI), which tracks companies who have become global benchmarks thanks to the best practices they have adopted from the economic, environmental and social standpoints. GRUPO SURA holds two types of investments, the first being its strategic investments in the financial service, insurance, social security and complementary service sectors;and the second corresponds to its portfolio investments in the processed food, cement and energy sectors.
Contact:
Santiago Baptiste
Tel. +57-1-651-5226 - Cel. +57-315-248-2848
Cra 9 No. 79A – 19 Piso3. Bogota - Colombia
SOURCE Grupo SURA
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