Business Context and Reporting Period
Company: Grupo Aval Acciones Y Valores S.A.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: March 4, 2025
Context: The filing announces the summoning of the Ordinary General Meeting of Shareholders scheduled for March 28, 2025. The meeting will address the approval of financial statements for the year ended December 31, 2024, the election of the Board of Directors, and the proposed distribution of profits.
Key Financial Metrics
The filing provides specific data regarding the proposed profit distribution for the fiscal year 2024 and cumulative reserves.
| Metric | Value (COP) |
|---|---|
| Net Income (2024) | 999,886,145,437.08 |
| Net Income with Tax Benefit (2024) | 709,421,434,622.37 |
| Net Income without Tax Benefit (2024) | 290,464,710,814.71 |
| Occasional Reserve Release (2019 onwards) | 7,366,472,809,706.07 |
| Total Income Available for Distribution | 8,366,358,955,143.15 |
| Proposed Cash Dividend | $2.30 per share per month |
| Total Dividend Payout (12 months) | 655,319,930,810.40 |
| Shares Outstanding (Subscribed/Paid) | 23,743,475,754 |
Note: The filing does not provide data on revenue, operating margins, debt levels, or cash flow statements.
Material Changes and Profit Distribution
The primary material change disclosed is the proposal to distribute profits from the 2024 fiscal year and accumulated reserves. The proposed distribution plan includes:
- Dividend Schedule: Monthly payments of $2.30 per share from April 2025 through March 2026.
- Source of Funds: Dividends will be drawn from profits of 2019 and subsequent years, subject to tax benefits for shareholders.
- Payment Timing: Dividends are payable within the first ten days of each month. The April 2025 payment is scheduled to begin on April 3, 2025, following shareholder approval.
- Reserves: A significant portion of the distributable income ($7.37 trillion) comes from the release of occasional reserves accumulated since 2019.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms that the March 2025 dividend payment was executed in accordance with the distribution plan approved in March 2024. The upcoming meeting will finalize the 2024 financial statements and the new dividend schedule.
Risks and Contingencies:
- Taxation: Dividends distributed from profits of 2017 and later are subject to withholding tax at the source under Colombian Tax Law (Articles 242, 242-1, and 245 of the E.T.).
- Regulatory Compliance: Withholding taxes will be transferred to shareholders as a lower value to pay, per Regulatory Decree 1457/2020.
Unusual Items: The filing notes a deduction of (7,604,187,939.80) related to effects from OCI realizations recognized through the equity method in subsidiaries, taken from income without tax benefit from 2022.
Investor Verification Checklist
- Verify the final approval of the 2024 Financial Statements and the profit distribution plan at the March 28, 2025 General Meeting.
- Confirm the exact tax withholding rates applicable to the proposed dividends based on the shareholder's jurisdiction and Colombian tax law.
- Monitor the payment of the first dividend under the new schedule, expected on April 3, 2025.
- Review the full 2024 Consolidated Financial Statements (available at the General Secretary's Office) for detailed revenue, debt, and liquidity metrics not included in this summary.