Bancolombia S.A. Announces Board of Directors' Decision
MEDELLIN, Colombia, Jan. 29 /PRNewswire-FirstCall/ -- The Board of Directors of Bancolombia S.A. ("Bancolombia") (NYSE: CIB), in a meeting held today, adopted the following decisions:
General Shareholders Meeting of Bancolombia S.A.
The Board of Directors of Bancolombia called the General Shareholders Meeting to be held on March 1, 2010, at 10:00 am in the Hotel Intercontinental located at Calle 16 No. 28 - 51 Km 5 Via Las Palmas, Medellin, Colombia.
Profits Distribution Project
The Board of Directors also decided to propose to the General Shareholders Meeting on the profits obtained in 2009, a dividend equivalent to COP 636.80 per share to be paid as follows: COP 159.20 per share and per quarter, on the first business day of each quarter (April 5, July 1, and October 1 of 2010 and January 4 of 2011).
This proposed dividend would represent an increase of 2.05% over the dividends paid in 2009.
The Board of Directors also proposed an increase in the legal reserves of COP 411,646 million. Contacts Sergio Restrepo Executive VP Tel.: (574) 4041424 Jaime A. Velasquez Financial VP Tel.: (574) 4042199 Juan E. Toro IR Manager Tel.: (574) 4041837
SOURCE Bancolombia S.A.
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