In March, the partner gatherings of the issuers listed on the Colombian Stock Exchange (BVC) focused on approving dividend proposals. These plans set the per‑share payout and the overall distribution that shareholders would receive, a key element in how investors gauge the company’s ability to return capital over time.
Dividends represent the return on investment for shareholders, expressed either as a cash yield or as additional shares. They reflect the company’s aim to create value for investors by channeling a portion of profits back to owners. Over the long term, consistent dividends can attract more buyers and draw in new participants to the public market.
To assess profitability, the amount of dividends per share is divided by the current stock price. Multiplying the result by 100 yields the percentage yield, which helps investors compare different issuers on a like-for-like basis.
Among the 2022 offerings, Terpel stood out with a dividend of 1,140 and a yield of 11%, the highest in that period. It was followed by Corficolombiana, which offered a dividend of 2,260 and a yield of 9.89%. Other top performers included Preferential Hunting Villas with 8.67%; Bbva Colombia preferred at 8.16%; Corficolombiana again at 8.02%; Ecopetrol at 7.96%; Bancolombia preferred at 7.96%; Bbva Colombia at 7.95%; Av Villas at 7.80%; and Grupo Energía Bogotá at 7.73%.
Market observations from Sharon Vargas, a market analyst, emphasize that shareholder returns arise not only from the dividend payout but also from price movements. She notes that the goal for investors is to surpass inflation, so if the inflation rate exceeds the dividend yield, the real economic benefit may be limited.
In contrast, some issuers delivered lower profitability while remaining in the green, including Colombian Enka with a dividend of 0.35 and a 1.46% yield; Canacol Energy at 1.71%; Bolivar Group at 1.93%; Grupo Nutresa at 2.04%; Sura Group at 2.21%; Electrical Interconnection at 3.10%; Grupo Exito at 3.12%; preferential Davivienda at 3.27%; Priority Grupo Sura at 3.42%; and Grupo Argos at 3.60%.
Vargas adds that the peak dividend levels reflect positive financial results and the broader economic recovery following the COVID-19 downturn. She also mentions that the wider Colcap index, anchored by Grupo Empresarial Antioqueño, demonstrates stronger returns in response to ongoing market dynamics and corporate actions that involve major shareholders and strategic offers.