MEDELLIN, Colombia, Feb. 4 /PRNewswire-FirstCall/ -- The Board of Directors of BANCOLOMBIA S.A. ("Bancolombia"), in a meeting held today, agreed to call for a General Shareholders' Meeting on March 10, 2008, at 10:00 am in the Metropolitan Theater (Teatro Metropolitano) located in the city of Medellin at the following address: Calle 41 No. 57-30.
Profit Distribution Project
The Board of Directors also decided to propose at the General Shareholders' Meeting, in regards to profits obtained in 2007, an approval of dividends equivalent to Ps 142 per share and per quarter, which will be payable from the first business day of each calendar quarter (April 1, July 1 and October 1 of 2008, and January 2 of 2009), amounting to Ps 568 per year, which represents an increase of 6.8% of the dividends paid in 2007. Concerning the Bank's growth in 2008, the Board of Directors also proposes to appropriate Ps 370,227 million more in order to increase the legal reserve.
