Welcome!

News Feed Item

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.

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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin, ...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...