facebook
linkedin
twitter
About Us
  • BFSI
  • Energy
  • Infocom
  • Mining
  • Venture
  • Industry
  • Travel
  • Civic
  • Food, Health, Ag
  • Real Estate
  • Responsibility
  • Economy
  • Law & Justice
  • Interview
  • Analysis

Ecopetrol Announces Dividend Of 70% Net Income, New Board of Directors, Auditor

Posted On March 27, 2015
By : Loren Moss
Comment: 0

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announced yesterday that the General Shareholders’ Meeting, held March 26th, 2015, approved an ordinary dividend of 133 Colombian pesos (COP$133) per share. The General Shareholders’ Meeting approved a lump sum payment of the total dividend to minority shareholders which will be paid beginning on June 22, 2015.

The dividend payable to the Colombian government, Ecopetrol’s majority shareholder, will be paid as follows:

Dividends to the Nation
Installments Payment date COP$
1 October 23, 2015 1,383,000,000,000.00
2 November 20, 2015 1,383,000,000,000.00
3 December 15, 2015 1,383,000,000,000.00
4 Between December 21, 2015 and March 11, 2016 690,176,646,687.00
Total 4,839,176,646,687.00

Based upon current Colombian securities law, the dividend will be paid to shareholders who are registered as holders of Company shares as of five trading days before the date of the payment.

The company’s new board of directors going forward will be as follows:

Representatives from the Government of Colombia:

  • Minister of Finance and Public Credit (currently Mr. Mauricio Cardenas)
  • Minister of Mines and Energy (currently Mr. Tomas Gonzalez)
  • Director of the National Planning Department (currently Mr. Simon Gaviria)

Independent representatives:

  • Gonzalo Restrepo Lopez
  • Joaquin Moreno Uribe
  • Jorge Gabino Pinzon Sanchez
  • Luis Fernando Ramirez Acuna
  • Horacio Ferreira Rueda (representative from the hydrocarbons producing provinces)
  • Roberto Steiner Sampedro (representative of the minority shareholders)

During the annual meeting, Ecopetrol also appointed PricewaterhouseCoopers as the external auditor for fiscal year 2015.

The company’s treasury reserve accounts of COP$14.76 trillion were capitalized by increasing the nominal value of shares from COP$250 to COP$609 per share, demonstrating the confidence of investors in the company and boosting its long term financial sustainability.

Ecopetrol, an integrated petroleum company is the largest corporate entity based in Colombia and is among the top 50 oil companies in the world and the top four in Latin America. Besides Colombia, where Ecopetrol generates over 60% of the national production, it has exploration and production activities in Brazil, Peru & the US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country. Ecopetrol is significantly increasing its strategic participation in bio-fuels.

Above photo: «Ecopetrol» de Dvalencia – Own work, used under license CC BY-SA 3.0 vía Wikimedia Commons

DON'T MISS OUT: The only English-language Colombia news that's strictly business, markets, & investment!
Join global executives & investors by subscribing to our FREE weekly updates
I agree to have my personal information transferred to MailChimp ( more information ) DISCLAIMER: Protección de Datos Personales Artículo 15 de la Constitución Política de Colombia, ley 1581 de 2012 y decreto 1377 de 2013.
We will never spam you or share your email address ¡Nunca Jamás!

Share the news!

  • Facebook
  • Twitter
  • Print
  • WhatsApp
  • LinkedIn
  • Skype

Related

Share your thoughts:

comments

About the Author
Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.
  • google-share
Previous Story

Fitch Affirms Avianca Holdings’ IDRs at ‘BB-‘ & Unsecured Notes at ‘B+/RR5’; Outlook to Negative

Next Story

Cencosud Reports Fourth Quarter Profits Up 7%, Net Income Down 35.7%





Search

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022
Colombia’s attorney general charged Russian national Sergein Vagin and six other people

Alleged Russian Spy Charged…With Running A Gambling Mafia

Posted On April 12, 2022

Viva Launches Nonstop Routes To Buenos Aires, Argentina From Medellín & Bogotá, Colombia

Posted On April 12, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Court Blocks Colombia’s $370 Million USD Emergency Loan To Bankrupt Avianca Airlines

Posted On September 12, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

AVIANCA IS BANKRUPT

Posted On May 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

[…] Duque’s administration will...

Posted On March 8, 2022

[…] See also: 13 Police Injured In...

Posted On March 3, 2022

Watch This!

Consider Advertising With Us

Click here to visit Expat Group's English site

Subscribe Free

don't forget to include "http://"
* = required field
Your Background / Function








unsubscribe from list

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

Watch This!

Contact Us (Click the image):

Pages

  • About Us
  • Colombia Events, Conferences, Festivals and Important Dates
  • Contact Us
  • main
  • Media Partnerships
  • Privacy Policy
  • Search Results
  • Whatsapp test page
Copyright 2014-2020 Finance Colombia All Rights Reserved. We may earn commissions from qualifying purchases.
Posting....
WhatsApp us