$6.9 Billion Released to Pay Extraordinary Dividend in Ecopetrol

.9 Billion Released to Pay Extraordinary Dividend in Ecopetrol

At Ecopetrol’s Extraordinary General Meeting of Shareholders held Friday, it was approved to release part of the company’s occasional reserve for COP 6.9 billion to pay it as an extraordinary dividend.

In this way, shareholders will receive $168 per share for the aforementioned extraordinary dividend, which will be added to the $280 that was approved and yield a total dividend of $448 per share, the highest dividend the company has paid in its history.

The State, as the majority shareholder of the oil company, will receive $6.1 billion for the extraordinary dividend, an amount that will be used as compensation for the balance of the debt of the Fuel Price Stabilization Fund (FEPC) with Ecopetrol SA no later than 30 December. June 2022.

The dividend for minority shareholders will be paid in one lump sum on June 30, 2022.

Of the total $8.8 trillion that is part of the occasional reserve set up at the Ordinary General Meeting of Shareholders on March 30, $6.9 trillion has been released and $1.9 trillion remains.

This measure is part of the solution defined by the national government and Ecopetrol to resolve the estimated $14.1 billion balance the fund has as of March 2022 in favor of the business group.

Source: El heraldo