Upcoming Dividend • Aug 19
Upcoming dividend of Col$143 per share Eligible shareholders must have bought the stock before 26 August 2026. Payment date: 01 September 2026. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 7.6%. Lower than top quartile of Colombian dividend payers (8.6%). Higher than average of industry peers (4.6%). Reported Earnings • Aug 16
Second quarter 2026 earnings released Second quarter 2026 results: Revenue: Col$951.3b (up 23% from 2Q 2025). Net income: Col$252.5b (up 70% from 2Q 2025). Profit margin: 27% (up from 19% in 2Q 2025). The increase in margin was driven by higher revenue. Declared Dividend • Aug 04
Dividend of Col$143 announced Shareholders will receive a dividend of Col$143. Ex-date: 26th August 2026 Payment date: 1st September 2026 Dividend yield will be 8.0%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Earnings per share has grown by 7.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Jul 21
Upcoming dividend of Col$143 per share Eligible shareholders must have bought the stock before 28 July 2026. Payment date: 03 August 2026. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 7.8%. Lower than top quartile of Colombian dividend payers (8.6%). Higher than average of industry peers (4.9%). Declared Dividend • Jul 02
Dividend of Col$143 announced Shareholders will receive a dividend of Col$143. Ex-date: 28th July 2026 Payment date: 3rd August 2026 Dividend yield will be 8.3%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Earnings per share has grown by 7.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Jun 17
Upcoming dividend of Col$143 per share Eligible shareholders must have bought the stock before 24 June 2026. Payment date: 01 July 2026. Payout ratio is a comfortable 13% but the company is not cash flow positive. Trailing yield: 8.2%. Within top quartile of Colombian dividend payers (8.2%). Higher than average of industry peers (4.8%). Declared Dividend • Jun 02
Dividend of Col$143 announced Shareholders will receive a dividend of Col$143. Ex-date: 24th June 2026 Payment date: 1st July 2026 Dividend yield will be 8.4%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Earnings per share has grown by 7.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 19
First quarter 2026 earnings released First quarter 2026 results: Revenue: Col$787.3b (up 8.6% from 1Q 2025). Net income: Col$64.6b (down 56% from 1Q 2025). Profit margin: 8.2% (down from 20% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 8% per year. Declared Dividend • May 05
Dividend of Col$143 announced Shareholders will receive a dividend of Col$143. Ex-date: 26th May 2026 Payment date: 1st June 2026 Dividend yield will be 8.6%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Apr 10
Dividend of Col$143 announced Shareholders will receive a dividend of Col$143. Ex-date: 27th April 2026 Payment date: 4th May 2026 Dividend yield will be 7.7%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Mar 06
Dividend of Col$143 announced Shareholders will receive a dividend of Col$143. Ex-date: 26th August 2026 Payment date: 1st September 2026 Dividend yield will be 5.1%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to Col$18,500, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 10x in the Banks industry in Colombia. Total returns to shareholders of 66% over the past three years. Ankündigung • Mar 03
Banco de Occidente S.A., Annual General Meeting, Mar 26, 2026 Banco de Occidente S.A., Annual General Meeting, Mar 26, 2026, at 15:00 SA Pacific Standard Time. Location: carrera 3 no 813 4th floor, rooms 3 and 4, cali Colombia Declared Dividend • Feb 03
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 24th February 2026 Payment date: 2nd March 2026 Dividend yield will be 6.9%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Jan 19
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 27th January 2026 Payment date: 2nd February 2026 Dividend yield will be 7.2%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Jan 03
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 27th January 2026 Payment date: 2nd February 2026 Dividend yield will be 7.3%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. New Risk • Dec 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 4.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Declared Dividend • Dec 12
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 24th December 2025 Payment date: 2nd January 2026 Dividend yield will be 7.3%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Dec 02
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 26th December 2025 Payment date: 1st January 2026 Dividend yield will be 6.9%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Nov 08
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 25th November 2025 Payment date: 1st December 2025 Dividend yield will be 7.3%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Oct 14
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 28th October 2025 Payment date: 4th November 2025 Dividend yield will be 7.8%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Sep 17
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 25th September 2025 Payment date: 1st October 2025 Dividend yield will be 7.3%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Sep 02
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 25th September 2025 Payment date: 1st October 2025 Dividend yield will be 7.3%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • Aug 22
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 26th August 2025 Payment date: 1st September 2025 Dividend yield will be 7.3%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Upcoming Dividend • Aug 22
Upcoming dividend of Col$133 per share Eligible shareholders must have bought the stock before 26 August 2025. Payment date: 01 September 2025. Trailing yield: 7.8%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (5.1%). Declared Dividend • Jul 04
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 28th July 2025 Payment date: 1st August 2025 Dividend yield will be 7.4%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Upcoming Dividend • Jun 19
Upcoming dividend of Col$133 per share Eligible shareholders must have bought the stock before 24 June 2025. Payment date: 01 July 2025. Trailing yield: 8.0%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (5.9%). Declared Dividend • Jun 04
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 24th June 2025 Payment date: 1st July 2025 Dividend yield will be 6.6%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to Col$22,000, the stock trades at a trailing P/E ratio of 6.4x. Average trailing P/E is 7x in the Banks industry in Colombia. Total returns to shareholders of 21% over the past three years. New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Colombian stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • May 17
First quarter 2025 earnings released First quarter 2025 results: Revenue: Col$738.1b (up 25% from 1Q 2024). Net income: Col$145.6b (up 77% from 1Q 2024). Profit margin: 20% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Declared Dividend • May 12
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 27th May 2025 Payment date: 3rd June 2025 Dividend yield will be 7.5%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Declared Dividend • May 03
Dividend of Col$133 announced Shareholders will receive a dividend of Col$133. Ex-date: 27th May 2025 Payment date: 3rd June 2025 Dividend yield will be 7.5%, which is lower than the industry average of 9.5%. Sustainability & Growth The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. Ankündigung • Mar 15
Banco de Occidente S.A., Annual General Meeting, Mar 26, 2025 Banco de Occidente S.A., Annual General Meeting, Mar 26, 2025, at 15:00 SA Pacific Standard Time. Location: carrera 3 no 813 4th floor, rooms 3 and 4, cali Colombia Ankündigung • Mar 06
Banco de Occidente S.A. announces Monthly dividend, payable on April 10, 2025 Banco de Occidente S.A. announced Monthly dividend of COP 133.0000 per share payable on April 10, 2025, ex-date on April 04, 2025 and record date on April 03, 2025. Ankündigung • Mar 05
Banco de Occidente S.A. announces Monthly dividend, payable on May 12, 2025 Banco de Occidente S.A. announced Monthly dividend of COP 133.0000 per share payable on May 12, 2025, ex-date on May 06, 2025 and record date on May 05, 2025. Upcoming Dividend • Feb 18
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 25 February 2025. Payment date: 03 March 2025. Trailing yield: 8.1%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (7.3%). Upcoming Dividend • Jan 21
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 28 January 2025. Payment date: 03 February 2025. Trailing yield: 9.5%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (8.3%). Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to Col$18,000, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 9x in the Banks industry in Colombia. Total loss to shareholders of 16% over the past three years. Upcoming Dividend • Nov 19
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 26 November 2024. Payment date: 02 December 2024. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (8.3%). Reported Earnings • Nov 17
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: Col$754.3b (up 30% from 3Q 2023). Net income: Col$165.2b (up 156% from 3Q 2023). Profit margin: 22% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue. Upcoming Dividend • Oct 21
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 28 October 2024. Payment date: 01 November 2024. Trailing yield: 12%. Within top quartile of Colombian dividend payers (12%). Higher than average of industry peers (8.3%). Upcoming Dividend • Sep 18
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 25 September 2024. Payment date: 01 October 2024. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (8.5%). Upcoming Dividend • Aug 20
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 27 August 2024. Payment date: 02 September 2024. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (8.6%). Reported Earnings • Aug 17
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: Col$720.8b (up 12% from 2Q 2023). Net income: Col$148.0b (up 16% from 2Q 2023). Profit margin: 21% (in line with 2Q 2023). Upcoming Dividend • Jul 19
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 26 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 12%. Within top quartile of Colombian dividend payers (12%). Higher than average of industry peers (8.5%). Upcoming Dividend • Jun 19
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 02 July 2024. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (8.5%). Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Col$13,660, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 10x in the Banks industry in Colombia. Total loss to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • May 31
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to Col$11,840, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 15x in the Banks industry in Colombia. Total loss to shareholders of 56% over the past three years. Upcoming Dividend • May 21
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 28 May 2024. Payment date: 04 June 2024. Payout ratio is a comfortable 10% but the company is not cash flow positive. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (8.6%). Reported Earnings • May 20
First quarter 2024 earnings released: EPS: Col$529 (vs Col$1,193 in 1Q 2023) First quarter 2024 results: EPS: Col$529 (down from Col$1,193 in 1Q 2023). Revenue: Col$590.0b (down 15% from 1Q 2023). Net income: Col$82.5b (down 56% from 1Q 2023). Profit margin: 14% (down from 27% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Apr 18
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 25 April 2024. Payment date: 02 May 2024. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (8.9%). New Risk • Apr 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Colombian stocks, typically moving 6.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Upcoming Dividend • Mar 14
Upcoming dividend of Col$115 per share Eligible shareholders must have bought the stock before 21 March 2024. Payment date: 01 April 2024. Trailing yield: 13%. Within top quartile of Colombian dividend payers (13%). Higher than average of industry peers (9.2%). Upcoming Dividend • Feb 19
Upcoming dividend of Col$134 per share Eligible shareholders must have bought the stock before 26 February 2024. Payment date: 01 March 2024. Trailing yield: 13%. Within top quartile of Colombian dividend payers (13%). Higher than average of industry peers (9.6%). Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to Col$13,960, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 10x in the Banks industry in Colombia. Total loss to shareholders of 49% over the past three years. Upcoming Dividend • Jan 19
Upcoming dividend of Col$134 per share at 13% yield Eligible shareholders must have bought the stock before 26 January 2024. Payment date: 01 February 2024. Trailing yield: 13%. Within top quartile of Colombian dividend payers (13%). Higher than average of industry peers (9.5%). Upcoming Dividend • Dec 19
Upcoming dividend of Col$134 per share at 13% yield Eligible shareholders must have bought the stock before 26 December 2023. Payment date: 02 January 2024. Trailing yield: 13%. Within top quartile of Colombian dividend payers (13%). Higher than average of industry peers (11%). Reported Earnings • Nov 21
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: Col$596.7b (up 3.4% from 3Q 2022). Net income: Col$64.6b (down 27% from 3Q 2022). Profit margin: 11% (down from 15% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 21
Upcoming dividend of Col$134 per share at 13% yield Eligible shareholders must have bought the stock before 27 November 2023. Payment date: 01 December 2023. Trailing yield: 13%. Within top quartile of Colombian dividend payers (13%). Higher than average of industry peers (11%). Upcoming Dividend • Oct 19
Upcoming dividend of Col$134 per share at 13% yield Eligible shareholders must have bought the stock before 26 October 2023. Payment date: 01 November 2023. Trailing yield: 13%. Within top quartile of Colombian dividend payers (13%). Higher than average of industry peers (10.0%). Upcoming Dividend • Sep 19
Upcoming dividend of Col$134 per share at 13% yield Eligible shareholders must have bought the stock before 26 September 2023. Payment date: 02 October 2023. Trailing yield: 13%. Lower than top quartile of Colombian dividend payers (14%). Higher than average of industry peers (9.9%). Upcoming Dividend • Aug 21
Upcoming dividend of Col$134 per share at 12% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 01 September 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (9.7%). Reported Earnings • Aug 18
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: Col$659.5b (up 17% from 2Q 2022). Net income: Col$127.3b (up 31% from 2Q 2022). Profit margin: 19% (up from 17% in 2Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • Jul 19
Upcoming dividend of Col$134 per share at 12% yield Eligible shareholders must have bought the stock before 26 July 2023. Payment date: 01 August 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (9.1%). Ankündigung • Jun 27
Banco de Occidente Announces Executive Changes Grupo Aval announced that, at the meetings of the boards of directors of Banco de Occidente held on June 23, 2023, the entities defined changes in the leadership of these banks according to previously established succession plans. The board of directors of Banco de Occidente appointed Mr. Gerardo Silva Castro as its new President. Mr. Silva has been a member of the bank since 1994 and has been serving as Vice president of Commercial Segment since 2014. In addition, the board of directors of Banco de Bogotá appointed Mr. César Prado Villegas, current President of Banco de Occidente, as its new President. César has been a member of Grupo Aval in multiple positions for almost 14 years, successfully acting as President of Banco de Occidente since 2018. Under his leadership, Banco de Occidente managed to consolidate milestones of good performance, improving all of its business lines, increasing its market share, and improving its profitability indicators. Mr. Prado is a lawyer who graduated from Universidad del Rosario, with postgraduate studies in Business Law from the Universidad de los Andes and a Master´s Degree in Law from the London School of Economics. He has extensive experience in the financial industry and has held various executive positions in important public and private institutions in the sector throughout his career. Mr. Silva holds a degree in Civil Engineering from the Universidad Javeriana in Bogotá, and an MBA from Babson College in Wellesley, Massachusetts, USA. He has also completed programs as a Senior Executive in Governance with the Universidad Icesi and in Transformative Business Leadership with the Center for Leadership and Management. Upcoming Dividend • Jun 20
Upcoming dividend of Col$134 per share at 12% yield Eligible shareholders must have bought the stock before 27 June 2023. Payment date: 04 July 2023. Payout ratio is a comfortable 11% but the company is not cash flow positive. Trailing yield: 12%. Lower than top quartile of Colombian dividend payers (12%). Higher than average of industry peers (9.0%). Reported Earnings • May 23
First quarter 2023 earnings released First quarter 2023 results: Revenue: Col$695.3b (up 21% from 1Q 2022). Net income: Col$186.0b (up 37% from 1Q 2022). Profit margin: 27% (up from 24% in 1Q 2022). The increase in margin was driven by higher revenue. Upcoming Dividend • May 19
Upcoming dividend of Col$134 per share at 11% yield Eligible shareholders must have bought the stock before 26 May 2023. Payment date: 01 June 2023. Trailing yield: 11%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (8.9%). Upcoming Dividend • Apr 18
Upcoming dividend of Col$134 per share at 11% yield Eligible shareholders must have bought the stock before 25 April 2023. Payment date: 02 May 2023. Trailing yield: 11%. Lower than top quartile of Colombian dividend payers (13%). Higher than average of industry peers (7.9%). Reported Earnings • Apr 13
Full year 2022 earnings released Full year 2022 results: Revenue: Col$2.38t (up 4.2% from FY 2021). Net income: Col$452.5b (down 22% from FY 2021). Profit margin: 19% (down from 25% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Upcoming Dividend • Feb 16
Upcoming dividend of Col$80.18 per share at 8.2% yield Eligible shareholders must have bought the stock before 23 February 2023. Payment date: 01 March 2023. Trailing yield: 8.2%. Lower than top quartile of Colombian dividend payers (13%). In line with average of industry peers (8.0%). Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to Col$15,000, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 4x in the Banks industry in Colombia. Total loss to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to Col$19,000, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 4x in the Banks industry in Colombia. Total loss to shareholders of 43% over the past three years. Upcoming Dividend • Jan 19
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 26 January 2023. Payment date: 01 February 2023. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (7.1%). Upcoming Dividend • Dec 20
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 27 December 2022. Payment date: 02 January 2023. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (7.3%). Upcoming Dividend • Nov 18
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 25 November 2022. Payment date: 01 December 2022. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (7.3%). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 8 highly experienced directors. Director Jose Carlos Santander Palacios was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Oct 19
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 26 October 2022. Payment date: 01 November 2022. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (13%). Lower than average of industry peers (7.8%). Upcoming Dividend • Sep 20
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 27 September 2022. Payment date: 03 October 2022. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (7.6%). Upcoming Dividend • Aug 19
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 26 August 2022. Payment date: 01 September 2022. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (6.8%). Upcoming Dividend • Jul 19
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 26 July 2022. Payment date: 01 August 2022. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (12%). Lower than average of industry peers (7.3%). Upcoming Dividend • Jun 17
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 01 July 2022. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (11%). Lower than average of industry peers (5.9%). Reported Earnings • May 19
First quarter 2022 earnings released First quarter 2022 results: Revenue: Col$580.4b (up 7.8% from 1Q 2021). Net income: Col$136.0b (up 11% from 1Q 2021). Profit margin: 23% (in line with 1Q 2021). Upcoming Dividend • May 18
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 25 May 2022. Payment date: 01 June 2022. Trailing yield: 5.1%. Lower than top quartile of Colombian dividend payers (10%). Lower than average of industry peers (6.6%). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. Director Jose Carlos Santander Palacios was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Apr 19
Upcoming dividend of Col$80.18 per share Eligible shareholders must have bought the stock before 26 April 2022. Payment date: 02 May 2022. Trailing yield: 4.2%. Lower than top quartile of Colombian dividend payers (9.9%). Lower than average of industry peers (6.2%). Reported Earnings • Apr 03
Full year 2021 earnings released Full year 2021 results: Revenue: Col$2.28t (up 19% from FY 2020). Net income: Col$580.2b (up 73% from FY 2020). Profit margin: 25% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Board Change • Apr 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. Director Jose Carlos Santander Palacios was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Mar 21
Upcoming dividend of Col$103 per share Eligible shareholders must have bought the stock before 28 March 2022. Payment date: 01 April 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Colombian dividend payers (8.0%). Lower than average of industry peers (5.9%). Upcoming Dividend • Feb 16
Inaugural dividend of Col$103 per share Eligible shareholders must have bought the stock before 23 February 2022. Payment date: 01 March 2022. The company is not currently making a profit but it is cash flow positive. The company last paid an ordinary dividend in November 2015. The average dividend yield among industry peers is 3.3%. 
