Grupo SURA’s Shareholders approved a dividend of COP 1,400 per share for 2024, which was 9.4% higher than that paid out in 2023 and the highest in the Company’s history

  • The declared dividend is 9.4% higher than that corresponding to 2023, and will be paid in four installments in April, July and October 2024, and January 2025.
  • The General Assembly of Shareholders also appointed a new Board of Directors for the statutory period 2024-2026.
  • For 2024, Grupo SURA projects a growth of between 9% and 12% in adjusted earnings per share along with close to COP 2 trillion in dividends to be received from its investments.
  • With regard to its ongoing strategy, the Company shall continue to work on Management´s priorities from the standpoint of integrating its economic, social, human and natural capital, in order to create sustainable profitability.

Grupo Sura´s General Assembly of Shareholders held its Ordinary Meeting this past Friday at which a dividend of COP 1,400 per share for 2024 was declared. This means an increase of 9.4% compared to the previous year and only goes to confirm the upward trend of the ordinary dividend paid out, which since 2019 has presented a compound annual growth of 20.6%, and which every year has meant a real increase compared to the previous year's inflation in Colombia.

This dividend will be paid in four equal installments (COP 350 per share) on the following dates: April 19, July 12, July 12, October 11, 2024, and January 2, 2025. Thus, the Company shall distribute almost COP 629 billion among more than 17 thousand of its shareholders.

Upon reading out the Management Report from the Chief Executive Officer and Board of Directors, Gonzalo Perez pointed out “these important management issues and perspectives that we have shared with you only go to confirm that we are upholding a strategy that is opening up opportunities for us, this in conjunction with a sound portfolio of industry-leading investments so as to continue creating value for our shareholders while growing hand in hand with Latin America.”

The 2023 Financial Statements were also presented and approved at this Ordinary Shareholders´ Meeting. It should be noted that Grupo SURA consolidated an adjusted controlling net income of COP 2.3 trillion last year, upon excluding the non-recurring effects associated with the divestitures carried out in 2023.

New Board of Directors 2024-2026
During the aforementioned meeting, the Shareholders also appointed a new Board of Directors for the statutory period 2024-2026 . This governing body is now composed as follows: as independent members Guillermo Villegas Ortega, Jaime Arrubla Paucar and Pedro Mejía Villa, and as equity members Alejandro Piedrahita Borrero, Jaime Velásquez Botero, Jorge Mario Velásquez Jaramillo and Luis Javier Zuluaga Palacio.

Outlook for 2024
During this meeting, Gonzalo Pérez shared with the shareholders the Company's projections. By the end of 2024, Grupo SURA estimates a consolidated controlling net income of between COP 1.6 trillion and COP 1.8 trillion, excluding the effects of the sale of its stake in Nutresa. It also projects that adjusted net income per share shall end this year between COP 4,100 and COP 4,600, compared to the normalized COP 4,002 obtained in 2023.

Likewise, Grupo SURA expects to receive dividends from its investments of almost COP 2 trillion along with an operating cash flow close to COP 1 trillion, thereby providing sufficient flexibility to continue meeting its commitments with both shareholders and creditors, in addition to maintaining adequate levels of indebtedness.

Among Management´s priorities is the evolution of the Company's ownership structure, as a result of finalizing the Framework Agreement. It should be recalled that the acceptance period for the tender offer for up to 23.1% of Grupo Nutresa's shares began on March 18. This tender offer was launched jointly but not severally by Grupo SURA, Grupo Argos, JGDB, Nugil and Graystone Holdings, the entity commissioned by IHC, began. At 5:00 p.m. on March 21, 385 acceptances had been recorded, this corresponding to 13.26% of the maximum amount to be purchased. Following the closing of this tender offer, the Company expects to move forward with the second stage of the share swap, whereby it shall have successfully executed the aforementioned Agreement.

Grupo SURA will continue to work on preserving its strong financial position through an optimal allocation of capital that encompasses its different lines of business along with initiatives that form part of its role as a corporate citizen.

“An understanding of the importance of an integrated capital management shall be decisive for us to remain relevant as a Company, since we realize that the impact we have on our stakeholders is a way of managing risks and ensuring better conditions for the business environment of our portfolio” stated Gonzalo Perez, Chief Executive Officer of Grupo Sura.

See Grupo Sura´s ANNUAL REPORT 2023