Grupo Security to propose dividend of CH$7.45 per share
At the next Shareholders' Meeting:
GRUPO SECURITY TO PROPOSE DIVIDEND OF CH$7.45 PER SHARE
At a meeting held today, the board of directors of Grupo Security agreed to call the annual general shareholder's meeting for April 7th. At that meeting, the board will propose a final dividend of CH$7.45 per share to be paid on April 20th. Combined with the interim and additional dividends of CH$2.2 and CH$2.6, respectively, that have already been paid, the company will be distributing a total of CH$12.25 per share or 55.8% of profit for the year 2019, giving a dividend yield of 7.7%.
Additionally, looking forward to the capital increase announced in October of last year, the board communicated that it will call an extraordinary shareholders' meeting on the same date to renew the board’s authority to set the price and initiate the placement for the capital increase. “We have been monitoring the situation of local and international financial markets since October. We want to be prepared to carry out this capital increase once the markets return to normal and commercial activity is stabilized. Doing this will ensure we get the resources to strengthen the growth of the Security companies at the right time,” explained Renato Peñafiel, CEO of Grupo Security.
For the year 2019, Grupo Security reported profit of CH $81,156 million, which represents an increase of 0.8% over 2017. The Group's consolidated results have grown on average 10.5% in the last ten years, attaining earnings per share of CH $22 for 2019.
Grupo Security is a diversified financial group structured into five main business areas. Each area includes the subsidiaries and divisions that share common business objectives. These five areas are: lending, insurance, asset management, other services and international business.