The annual net profits of Bancolombia must be applied as follows: (i) first, an amount equal to 10.00% of Bancolombia’s net profits to a legal reserve until such reserve is equal to at least 50.00% of the Bank’s paid-in capital; (ii) second, to the payment of the minimum dividend on the preferred shares; and (iii) third, as may be determined in the ordinary annual stockholders’ meeting by the vote of the holders of a majority of the shares entitled to vote.
| Dividends declared with
respect to net income
earned in: | Cash dividends per
share (Stated in
COP) |
| 2017 | 1,020 |
| 2016 | 950 |
| 2015 | 888 |
| 2014 | 830 |
| 2013 | 776 |
| 2012 | 754 |
