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Tecnoglass to Issue Quarterly Dividend on April 28

Posted On March 26, 2017
By : Jared Wade
Comment: Off
Tag: aluminum, barranquilla, bolsa de valores de colombia, bvc, bvc:TGLSC, christian daes, christian daes abuchaibe, colombia, colombia stock exchange, columbia stock exchange, E.S. Windows, energia solar, Giovanni Monti and Partners Consulting and Glazing Contractors, glass, Glazing, gmp, jose daes, josé m. daes, jose manuel daes, llc, miami, nasdaq, nasdaq:tgls, nyse:tgls, plate glass, technoglass, tecnoglass, tgls, tglsc, yuyo daes

Barranquilla-based window and glassmaker Tecnoglass, Inc. announced earlier this month that it will issue a quarterly dividend of $0.125 per share for the first quarter of 2017. The dividend will be payable on April 28 to all “shareholders of record” at the close of business on March 31, according to the company.

The dividend will be paid in cash or ordinary shares, two options that shareholders can chose during the election period that will last from March 31 through April 21 at 5:00 p.m. (Eastern Time). The default will be a dividend payment in ordinary shares if no choice is made.

In valuing the share payments, Tecnoglass will use a three-day average. “The value of the ordinary shares to be used to calculate the number of shares to be issued with respect to that portion of the dividend payable in ordinary shares shall be the average of the closing price of the company’s ordinary shares on NASDAQ during the three-day period from April 19, 2017 through April 21, 2017,” said Tecnoglass in a statement.

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About the Author
Jared Wade is editor in chief of Finance Colombia. He is a Bogotá-based journalist with 15 years of experience covering topics including business, financial services, Latin America, and sports. Email him at jared.wade(at) financecolombia.com or follow him on Twitter at @Jared_Wade.
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