March 21, 2002 – Santiago, Chile.
Quiñenco S.A. (LQ:NYSE) reported today that its Board of Directors has proposed a dividend per share of Ch$5.75 pesos, equivalent to 40% of 2001 net profit. The proposal will be put forth at the Company’s General Ordinary Shareholders Meeting to be held in April 2002.
At the Board of Directors meeting, which was held on March 19, 2002, the Board proposed a total dividend distribution of Ch$6,203,752,733 (or Ch$5.7456 pesos per share) to be distributed among its 1,079,740,079 common shares, as follows:
A minimum (obligatory by law) dividend of Ch$3,508,344,062, equivalent to Ch$3.24925 pesos/share and 22.62% of 2001 earnings.
An additional dividend of Ch$2,695,408,671, equivalent to Ch$2.49635 pesos/share and 17.38% of 2001 earnings.
If this dividend proposal is accepted at the General Ordinary Shareholders Meeting, it will be payable on May 9, 2002.
Quiñenco will be reporting its financial results for the fourth quarter and year-end 2001 on or before March 30, 2002.