Bancolombia S A : February 24, 2021, Bancolombia announces proposal to distribute profits.
March 01, 2021 at 02:26 pm
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BANCOLOMBIA ANNOUNCES PROPOSAL TO DISTRIBUTE PROFITS
Medellin, Colombia, February 24, 2021
The Board of Directors of Bancolombia S.A ("Bancolombia") approved the following profit distribution proposal to be submitted at the General Shareholders' Meeting:
(i) The payment of an ordinary dividend equal to COP $260 per share, to be paid as follows: COP $65 per share and per quarter on the following dates: April 5, 2021, July 1, 2021,
October 1, 2021, and January 3, 2022. Such dividends are proposed to be payable to holders of outstanding common and preferred shares of Bancolombia.
(ii) The establishment of a specific reserve for the strengthening of equity and future growth of the bank in the amount of COP $810,559 million.
(iii) A specific reserve for the development of social benefit projects in the amount of COP $10,000 million.
The table below summarizes the profit distribution proposal (Colombian pesos):
1,033,036,556,717.09 (129,077,316,981.33)
903,959,239,735.76
108,973,102,791.42
57,701,443,512.78
Gross profit 2020
Provisions for income tax and deferred tax
Net profit fiscal year 2020
Plus retained earnings recorded in the opening balance sheet and realized during fiscal year 2020
Plus release of resources destined to payment of preferred shares dividends
Total to be distributed
1,070,633,786,039.96
Specific reserve for the strengthening of equity and future growth
810,558,766,039.96
For the payment of a dividend in respect of 509,704,584 common shares and 452,122,416 preferred shares, subscribed and paid as
of December 31, 2020, in the amount of $260 per share, to be
250,075,020,000.00
paid as follows: $65 per share and per quarter on the following dates: April 5, July 1, October 1, 2021 and January 3, 2022.
Specific reserve for the development of social benefit projects
10,000,000,000.00
TOTALS
1,070,633,786,039.96
1,070,633,786,039.96
Contacts
The ex-dividend period is expected to begin 4 trading days before the respective payment date and end on such payment date, as follows:
Ex-Dividend Date (*)
Payment Date (*)
March 26, 2021
April 5, 2021
June 25, 2021
July 1st, 2021
September 27, 2021
October 1st, 2021
December 28, 2021
January 3, 2022
(*) The dates of the ex-dividend period will be subject to adjustment in accordance with the provisions of the Colombian Stock Exchange. If December 31st, 2021 is declared as a non-trading day, the ex-dividend period will begin on December 27.
Contacts
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Disclaimer
Bancolombia SA published this content on 24 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2021 19:25:03 UTC.
Bancolombia S.A. (Bancolombia) is a financial institution engaged in providing a range of financial products and services to a diversified individual, corporate, and government customer base throughout Colombia, Latin America and the Caribbean region. The Bank operates through 10 segments: Banking Colombia, Banking Panama, Banking El Salvador, Leasing, Trust, Investment Banking, Brokerage, Off Shore and All other. It delivers its products and services through its regional network comprising Colombia's non-Government owned banking network, El Salvador's financial conglomerate by gross loans, Guatemala's bank, Panama's bank and off-shore banking subsidiaries in Panama, Cayman and Puerto Rico, as well as subsidiaries in Peru. The Bank and its subsidiaries offer Savings And Investment, Ahorro A La Mano, Financing, Mortgage Banking, Factoring, Financial and Operating Leases, Capital Markets, eTrading, Cash Management, Foreign Currency, Bancassurance, Investment Banking and Trust Services.
BANCOLOMBIA S.A. 
