- 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 4, 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