Colombia Stock Movers: BVC, Grupo Sura Gain; Davivienda Falls
The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:27 a.m. local time.
The IGBC Index (IGBC) gained 0.7 percent to 15,030.15 while the Colcap Index gained 0.5 percent to 1,728.60.
Bolsa de Valores de Colombia SA (BVC CB), the operator of Colombia’s main stock exchange, rose 2.1 percent to 33.6 pesos. The company will pay a 2012 dividend of 1.52 pesos per share, including an extraordinary dividend of 0.46 peso per share, according to a regulatory filing yesterday. That is a 64 percent increase from last year’s dividend, according to the filing.
Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s largest bank, rose 0.3 percent to 32,220 pesos. Suramericana announced plans for a 2012 dividend of 308 pesos per ordinary share, a 6.2 percent increase from last year. The company also proposed a dividend of 975 pesos per preferred share.
Banco Davivienda SA (PFDAVVND) , Colombia’s third-biggest bank, fell 0.3 percent to 20,240 pesos. The bank will seek to increase the return on equity of HSBC banks it has agreed to acquire in Central America to 9 percent by 2014, Davivienda President Efrain Forero told La Republica.
Fitch Ratings placed HSBC subsidiaries in Costa Rica and El Salvador on credit watch with a negative outlook Jan. 27 after Davivienda agreed to purchase them. Fitch said it would assess whether Davivienda would continue to provide support to the subsidiaries as HSBC did. HSBC agreed on Jan. 24 to sell its subsidiaries in Costa Rica, Honduras and El Salvador to Davivienda for $801 million.
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