December 23, 2003 – Santiago, Chile.
The Board of Directors of Quiñenco S.A.. (LQ:NYSE) approved on December 22, 2003, the distribution of an interim dividend of Ch$11.24745 per share (Ch$112.4745 per ADR). The total dividend distribution which amounts to Ch$12,144,322,552, will be charged against 2003 net earnings and is equivalent to 30% of net earnings as of September 30, 2003. The dividend will be paid on January 9, 2004 and distributed among its 1,079,740,079 shares of record as of January 2, 2004.
The Board of Directors, in its meeting on December 22, 2003, approved a modification in the dividend policy for 2003, in order to allow for the distribution of an interim dividend, to be charged against 2003 net profits. Quiñenco’s dividend policy is to distribute at least 30% of annual net profits.
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, manufacturing and real estate and hotel administration.