Shareholders Meeting approves EEB's dividends for 2011
Bogotá, Colombia, 14 March 2012
- The company will give its shareholders COP319,964,019,042 billion representing a dividend of COP34.85 per share.
- Shareholders Meeting set dividend payment date on June 26, 2012.
Bogotá 14 March 2012. Empresa de Energía de Bogotá –EEB Shareholders Meeting approved the distribution project of profits and reserves submitted by the Board of Directors. The decision implies that the company will hand out COP 319.964.019.042 to its shareholders, which will represent a dividend of COP 34.85per share. The Shareholders Meeting set the payment of dividends date on 26 June 2012.
The figure to be distributed to the shareholders shows the strength, the growth and the ability of EEB to generate results, becoming the operating and headquarters of one of the main energy economic corporations in the region with investments in Colombia, Peru and Guatemala.
With respect to 2010 results, EEB declared that comparing 2011 results was not ideal as the first year they received in an anticipated manner their profits, had this not occur, it would have increased their profits in 2011. Accordingly, the behavior shown by profits in 2011 as regards the previous year do not reflect any operational deterioration by EEB nor the companies that make up its portfolio.
Anticipated income corresponds to the dividend decree from the companies in which EEB has participation and shareholding control, which carried out their accounting closures to anticipate dividends from 2010 based on partial cuts to its financial statements.
Had this extraordinary cut not occur in 2010, the company would have reported profits amounting to $600.088 million and in 2011, amounting to $798.149 million. Thus, average profits in the past three years would had amounted to $707.151 million.
These accounting effects were normalized in 2012.
About Grupo Energía de Bogotá
Grupo Energía de Bogotá is a leading corporation in the Colombian energy sector. Through EEB it transports electricity to a market enjoying one of the largest demand in the country and greatest in size, in addition it has control of the largest natural gas carrier in the country, TGI S.A. In Perú, it company CONTUGAS has a 30 year concession for the transportation and distribution of natural gas in the Ica Department, while CALIDDA is in charge of distributing natural gas in Lima and Callao. In that same country, ISA, participates in REP S.A. and TRANSMANTARO S.A., which operate 63% of the electricity transmission system in the country. In 2010, it incorporated TRECSA - Transportadora de Centroamérica S.A.- that will build the most important energy infrastructure project in Guatemala and will render electricity transmission services as of 2013. In addition, it holds a portfolio of significant investments in large companies in the energy sector, amongst which the following stand out CODENSA S.A., EMGESA S.A., GAS NATURAL S.A., Empresa de Energía de Cundinamarca - EEC and Electrificadora del Meta, EMSA and in a lesser scale ISA and ISAGEN.