Ecopetrol S.A., Colombia's largest integrated energy company, has announced its earnings distribution proposal for the fiscal year 2023. The proposal, approved by the company's board of directors, will be presented at the General Shareholders' Meeting scheduled for March 22, 2024. The company reported a net income after income tax of COP 19.06 trillion for 2023, with an additional COP 8.17 trillion released from reserves of previous years. The proposal includes an ordinary dividend of 60.0% of net income, amounting to COP 278 per share, and an extraordinary dividend of 7.3% of net income, or COP 34 per share, totaling a dividend payout of COP 312 per share. This distribution represents the second highest in Ecopetrol's history. Additionally, the board suggests allocating COP 11.99 trillion to an occasional reserve...Show More

Ecopetrol S.A., Colombia's largest integrated energy company, has announced its earnings distribution proposal for the fiscal year 2023. The proposal, approved by the company's board of directors, will be presented at the General Shareholders' Meeting scheduled for March 22, 2024. The company reported a net income after income tax of COP 19.06 trillion for 2023, with an additional COP 8.17 trillion released from reserves of previous years. The proposal includes an ordinary dividend of 60.0% of net income, amounting to COP 278 per share, and an extraordinary dividend of 7.3% of net income, or COP 34 per share, totaling a dividend payout of COP 312 per share. This distribution represents the second highest in Ecopetrol's history. Additionally, the board suggests allocating COP 11.99 trillion to an occasional reserve for sustainability to support the company's financial stability and strategic execution. Dividend payments to minority shareholders will be made in three equal installments on April 25, September 26, and December 19, 2024, while the majority shareholder's dividend is expected to be paid in full by December 31, 2024. Ecopetrol has a significant presence in the hydrocarbon production, transportation, logistics, refining, petrochemicals, and gas distribution sectors in Colombia and holds strategic positions in energy transmission and other industries across the American continent.