Grupo Argos Assembly approved the payment of dividends to its shareholders with an increase of 7.4%

26 March 2020

March 26, 2020

  • In the previous year, Grupo Argos reached an ebitda of COP 4.8 billion, the highest in its history.
  • The company will pay COP $ 376 per share, which represents an increase of 3.5% over inflation in 2019.
  • In the midst of the current situation due to COVID-19, Grupo Argos, in coordination with Proantioquia, made a donation of COP 10 billion to strengthen the health system’s capacity for care.
  • In 2019 Grupo Argos was listed, for the third consecutive year, as the most sustainable company in the world in its sector by the Dow Jones Sustainability Index.

This Thursday Grupo Argos held its General Shareholders’ Meeting in a non-face-to-face manner, attending to the measures of mandatory preventive isolation in the country. During the meeting, the organization announced the financial results for 2019, where consolidated revenues stand out, which reached COP 16.8 billion, growing 18% year-on-year, a result that shows the strategic transformation of the energy and concessions businesses, as well as the profitability of the cement business.

These advances were reflected in a consolidated EBITDA at the end of the year of COP 4.8 trillion, growing by 21% and becoming the highest recorded in the history of the company. The positive performance of its businesses allowed Grupo Argos to close the year with a net profit of COP 1.3 billion and a net profit of the parent company of COP 690 billion.

“2019 was a year with positive results for Grupo Argos, which allows us to attend to the current situation by making responsible and prudent decisions. We want to extend an invitation to look at this moment with judgment and rigor, but also with the optimism and energy that a dynamic like the one we are experiencing demands. Today more than ever, the country needs the efforts and competition of the business sector to become a participant in the challenges and opportunities that we face as a society ”, Jorge Mario Velásquez, President of Grupo Argos

Decisions of the Shareholders’ Meeting

In the Assembly, the project for the reacquisition of shares for an amount of COP $ 400 billion was approved, a project that can be executed, without being required to do so, within a period of 3 years, as defined by the Board of Directors, taking into account the conditions From the market.

This initiative responds to the conviction that one has about the fundamental value of the action, in addition to being a mechanism used worldwide.

In addition to the approval of the Management Report of the Board of Directors and the President and the Financial Statements as of December 31, 2019, the Assembly approved the payment of a dividend of $ 376 per share, which represents an increase of 7.4% over the year. previous, 3.5% above inflation.

During the meeting, the change of the Board of Directors of Grupo Argos was approved with the entry of Gonzalo Alberto Pérez as a patrimonial member, replacing David Bojanini, who received special recognition for accompanying the company’s strategy for more than 16 years, participating in its process of transformation and international expansion.

Main figures of the financial results for 2019

• Consolidated income of COP 16.8 trillion, with growth of 18%.

• Net profit of COP 1.3 trillion.

• Ebitda of COP 4.8 billion, growing 21%, the highest in the history of the organization.

• Consolidated assets of COP 51 billion.

• COP 11 trillion in asset and transaction rotations to optimize the capital structure of their businesses