March 16, 2005 – Santiago, Chile.
Quiñenco S.A. (LQ:NYSE) reported today that its Board of Directors has proposed a final dividend distribution of Ch$14,011,625,044, equivalent to Ch$12.97685 pesos per share. The proposal will be put forth at the Company’s General Ordinary Shareholders Meeting to be held on April 29, 2005.
At the Board of Directors’ meeting, which was held on March 14, 2005, the Board proposed that 60% of 2004 net profits be distributed among its 1,079,740,079 common shares, as follows:
• A minimum legal dividend of Ch$5,924,944,115, equivalent to 30% of the 2004 liquid net income (calculated as net income less accumulated start-up losses and amortization of consolidated negative goodwill) and
• An additional dividend of Ch$8,086,680,929, equivalent to 34.6% of 2004 net income.
If the final dividend proposal is accepted at the General Ordinary Shareholders Meeting, it will be payable on May 11, 2005.
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.