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After its shareholders meeting and the announcement of the arrival on the board of Felipe Larraín, until last October, Minister of Finance, the Cencosud company announced that will distribute to its shareholders about 80% of its profits for the year 2019.
In an essential fact communicated this April 30 to the Commission for the Financial Market (CMF), the holding company announced that sand approved the payment of dividends for a total amount of 91,360,142,304 pesos, which are “approximately” equivalent to 80.12% of its net profits last year.
By law, and in order to protect minority shareholders from unilateral decisions of the controller, corporations must distribute a minimum of 30% of the liquid profits from your previous exercise.
Through Inversiones Quinchamalí Limitada, Inversiones Latadía Limitada, Inversiones Tano Limitada and own shares of Horst Paulmann Kemna, the Paulmann family controls about 53% of Cencosud.
In mid-April, Cencosud announced that it would take advantage of the “Employment Protection Law” at its department stores – Paris, Johnson and Eurofashion – as it had, the firm said, the agreement of 70 percent of workers unions.
