March 3, 2006 – Santiago, Chile.
Quiñenco S.A. (LQ:NYSE) reported today that its Board of Directors has proposed a final dividend distribution of Ch$15,600,009,080, equivalent to Ch$14.44793 pesos per share. The proposal will be put forth at the Company’s General Ordinary Shareholders Meeting to be held at the end of April 2006.
At the Board of Directors’ meeting, which was held on March 2, 2006, the Board proposed that 32.65% of 2005 liquid net profits be distributed among its 1,079,740,079 common shares, as follows:
- A minimum legal dividend of Ch$14,334,823,642, equivalent to 30% of the 2005liquid net income and
- An additional dividend of Ch$1,265,185,438, equivalent to 2.65% of 2005 liquid net income.
If the final dividend proposal is accepted at the General Ordinary Shareholders Meeting, it will be payable on May 10, 2006.
* Liquid net income is calculated as net income less accumulated start-up losses and amortization of consolidated negative goodwill.
Quiñenco S.A., a leading Chilean business conglomerate, is the controlling entity of a portfolio of companies involved in financial services, food and beverage, telecommunications and manufacturing.