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​Dividends per share​

As provided by ISA's dividends policy, and in consideration of the Corporate Bylaws and Corporate Governance Code, as well as by Shareholders' Assembly decision, dividends are paid per share in proportion to the Company's financial results

 Dividendos.JPG

Dividends  payments | 2020  

 
​​ Payment Date
$337,5 per share
Ex dividend date​ ​
​Initial Date Ending Date

​ ​

July 23, 2020     July 16, 2020 ​July 22, 2020
​December 15, 2020
​December 9, 2020
​December 14, 2020



Tax withholding at source will be applied to dividends decreed and paid in 2020, considering that:

Tax withholding at source is applicable if the amount of the dividend decreed exceeds the statutory limits, regardless of whether each individual payment does not reach the ceiling.​


INCOME withholding | 2020


TYPE OF INVESTOR
CEILINGS
% withheld
Resident natural person Dividend exceeding 300 UVT (COP 10,682,000 in 2020) 10%
Non-resident natural person  On any value 7.5%
Local companies To the company receiving the dividend for the first time 7.5%
Foreign companies On any value 7.5%
Companies under the Colombian Holding Companies (CHC) regime and Decentralized Public Entities
Register this situation in the Single Tax Record (RUT). 0%
Distribution within Company Groups and Controlled Companies  Duly registered with the Chamber of Commerce
0%
Non-taxpaying entities​ Register this situation in the Single Tax Record (RUT). 0%

​​


ICA withholding | 2020

TYPE OF INVESTOR
CEILINGS
% withheld
Resident legal persons, including CHC
 Dividend exceeding 15 UVT (COP 534.000 in 2020)         0.2%
Foreign companies​   Dividend exceeding 15 UVT (COP 534.000 in 2020)
         0.5%
Resident and non-resident natural persons
By express statutory provision
         0%
Non-withholding entities
By express statutory provision
         0%

 

Examples of tax withheld at source

- If the payment of the first installment of the dividend decreed exceeds the ceilings, the corresponding tax withholding at source will be applied. 

- When the last installment is paid, if the dividend decreed (total of payments made during the year) reaches the ceilings, the corresponding tax withholding at source will be applied, subtracting withholdings applied to the first payment or previous payments. 

Example 1:​

Dividend decreed to foreign company:                               COP 1.499.232

Payable in 2 installments: In July for COP 9.328.800 and in December for COP 9.328.800


Example 2:

Dividend decreed to a Resident Natural Person:                            COP 53.263.584

Payable in 2 installments: In July for COP 26.631.792 and in December for COP 26.631.792





Dividends payments | 2010 - 2020

Period Declaration Dat​e Payment
Date
Type of
Dividend
COP/Share Total
Dividends
Total
Dividends
Decreed
(COP millon)
2010 03/29/2010 04/19/2010
07/19/2010
10/19/2010
01/27/2011
Ordinary $ 40
$ 40
$ 40
$ 40
$160 $177.228
2011 03/31/2011 ​04/18/2011
07/18/2011
10/18/2011
01/27/2012
Ordinary $ 43
$ 43
$ 43
$ 43
$172 $190.521
2012 03/30/2012   06/26/2012 Ordinary $179 $179 $198.274
2013 ​03/22/2013 06/04/2013 Ordinary $188 $188 $208.243
2014 03/28/2014 ​07/21/2014
09/22/2014
Ordinary
Extraordinary
$196
$18
$214 $237.043
2015 ​03/27/2015 ​04/28/2015


07/28/2015


10/27/2015


12/10/2015
Ordinary
Extraordinary

Ordinary
Extraordinary

Ordinary
Extraordinary

Ordinary
Extraordinary
$ 52
$ 15

$ 52
$ 15

$ 52
$ 15

$ 52
$ 15
$268 $296.858
2016 ​31/03/2016 ​26/07/2016


15/12/2016
Ordinary
Extraordinary

Ordinary
Extraordinary
$ 114
$ 30

$ 114
$ 30
$228 $319.011
2017 ​31/03/2017 ​25/07/2017


12/12/2017
Ordinary
Extraordinary

Ordinary
Extraordinary
$ 124
$ 72

$ 124
$ 72
$392 $434.210
2018 ​23/03/2018 ​12/07/2018


4/12/2018
Ordinary
Extraordinary

Ordinary
Extraordinary
$ 1133
$ 138

$ 133
$ 138
$542 $600.361
2019 ​04/07/2019 ​24/07/2019


11/12/2019
Ordinary


Ordinary
$ 276


$276
$552 $611.438
2020 ​27/03/2020 ​23/07/2018


15/12/2018
Ordinary


Ordinary

$ 337,5

$ 337,5

$675 $747.683

 

 

 

​ 




​Policy

Every shareholder is entitled to receive as dividend a part of the company profits proportional to the number of shares held by the shareholder. For purposes of distributing profit, as provided by articles 155 and 454 of the Code of Commerce, realized profit shall be computed through the following procedure: (a) From the Corporation's profits taken from actual and accurate financial statements of each fiscal period, subtract the amounts corresponding to: (i) losses from previous periods (if any), (ii) legal reserve, (iii) tax appropriations; (b) To the balance calculated apply the percentages determined by the aforementioned articles of the Code of Commerce. The resulting amount shall be the minimum amount to be distributed as dividends each period; (c) Balances remaining after distribution of minimum dividends shall be at the disposal of the Shareholders' Meeting for statutory and discretionary reserves or to be distributed as dividends in addition to the minimum dividends established by letter b) above.

Articles 155 and 454 of the Code of Commerce

 

- Article 155 - Approval for the distribution of profits. Amended by Article 240 of Law 222 of 1995. Except when the articles of incorporation provide for a higher majority to decide, profit distribution shall be approved by the Shareholders’ Meeting or the Partners Meeting with the favorable vote of a plural number of members representing at least 78% of shares or participation stock present at the meeting.

 

When no majority is obtained in the manner provided above, at least 50% of the realized profit, or of its balance, shall be used to absorb losses from previous fiscal years, if any. Corresponding ruling: 110 ord. 8o, 150. 151, 187 ord. 3, 332, 371, 381, 454; C. Civil 2092 to 2096.

 

 - Article 454 - When the aggregate of legal, statutory and occasional reserves exceeds one hundred percent (100%) of subscribed capital, the mandatory percentage of realized profit to be distributed by the company according to Article 155, shall be seventy percent (70%).

Dividends decreed 2020

Exercise 2019 

The ISA Ordinary General Meeting of Shareholders held on March 27, 2020 approved the profit distribution proposal for the 2019 fiscal year. The proposal consists of distributing profits for $ 747,683 million to decree an ordinary dividend of $ 675 per share, the highest paid until now.​

Related Information 

 

Decree 4766 of december 14, 2011 (58 KB).pdf

 

Procedure to apply the trade and industry tax (ica) withholding on dividends (56 KB).pdf