Ecopetrol Council approves dividend payment of $280 per share

In the middle of the Shareholders Meeting, Ecopetrol approved the ordinary dividend payment equivalent to $243 per share and the extraordinary dividend payment of $37 for a total of $280 per share.

Felipe Bayón, “Let’s remember that there are 254,000 Ecopetrol shareholders, some of which are pension funds, equivalent to $11.5 billion in dividends that will go to Nation and shareholders.” said. ecopetrol.

The company confirmed its financial balance last year after hitting a historic profit of $16.7 billion. This result is based on EBITDA of COP 42 billion and revenue of COP 91.7 billion. Ecopetrol is back in the line of good numbers with this one, as the results far exceeded the preliminary forecasts of key analysts and the market, which projected a net profit of $15 billion.

Similarly, the business would announce $20.4 trillion at the disposal of the General Assembly after deducting required reserves ($2.1 trillion) for the current year, while the occasional sustainability reserve creation amount would be $8.89 trillion.

Bayón, on the other hand, underlined that the participation in crude oil from the Group’s total production reached 79%. In addition, natural gas and Liquefied Petroleum Gas (LPG) production represented 21% of Ecopetrol’s output.

Adding that the equivalent of more than 2.002 million barrels has been reached in the management of reserves, the manager said, “In 2021, we made decisive progress by consolidating ourselves as one of the leading energy and infrastructure groups in Latin America.” This represented a 200% substitution index, meaning that for every barrel sold, the oil company added two to its crude reserves.

Source: Lare Publica

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