ISA Board changes

Company News    Mar 31, 2021 2:44 PM

ISA announced the payment of dividends, and changes in its Board of Directors.

The company will pay dividends of CoP$1,303 per share, a dividend never before delivered by the company, Portafolio reported.

This represents a 93% growth compared to 2020 figures.

ISA will pay an ordinary dividend of CoP$744 per share that is equivalent to 40% of net income, and an extraordinary dividend of CoP$559 per share, representing 30% of net income.

“We continue to respond to our shareholders, making their investment increasingly profitable, making the best decisions focused on maintaining leadership and competitive,” ISA’s Bernardo Vargas said.

The expert said that the company is focusing on generating value in a society that demands more and more organizations that understand and address major issues of global interest.

ISA highlighted that the increase in dividends will be funded with company cash, without the need to take on debt.

In addition, the company approved the appointment of three new independent members to its Board of Directors.

Ana Maiguashca, nominated by the Ministry of Finance (MinHacienda); Jorge Andrés Carrillo Cardoso, nominated by EPM; and Diego Muñoz, nominated by the Pension Funds, are the new members of the Board.

Maiguashca is an economist from Universidad de los Andes and has an MBA from Columbia Business School. She has held positions of high responsibility in the public sector such as Director of Financial Regulation, Vice Minister of Finance and she has served as co-director of Colombia’s Central Bank for eight years.

Carrillo is a civil engineer and environmental engineer with a master’s degree in Environmental Management, degrees obtained from the Universidad de los Andes. He has 15 years of experience as a senior government official and as a business consultant on sustainable management issues.

Muñoz is a lawyer from the Universidad de los Andes with a specialization in Commercial Law from the same University. He holds a Master’s (M.Sc.) in Latin American Public Policy from Oxford University, a Master’s (LL.M.) in International Financial Law from the London School of Economics.

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