SQM approves dividend payment of $ 230 million
Although the SQM’s extraordinary shareholders approved yesterday a dividend of $ 230 million is allocated, the measure did not have the unanimous support of the board of the Company.
The Sociedad Quimica y Minera, SQM, agreed at an extraordinary shareholders meeting on a possible dividend payment of $ 479.50994 per share, equivalent to U.S. $ 229.2 million, amount to be distributed under retained earnings.
This was communicated by the company in a material fact which was sent to the stock exchanges and the Securities and Insurance. Such amount is about 50% of earnings in 2013 and the payment will be from July 18th. The Board authorized the implementation of the necessary measures for the payment applies.
According to the president and controller of the non-metallic mining, Julio Ponce, the Directors who opposed the dividend must generate parameters that allow their shareholders can anticipate an increased dividend payments, depending on the cash position, liquidity and debt society.
According to sources familiar with the decision, the Directors in question were representatives of Potash.
