Banco de Chile said its board will propose a dividend payment of about 2.92 Chilean pesos per share, corresponding to 60% of the bank's net income for the fiscal year ended Dec. 31, 2016.

The board will make the proposal at an ordinary shareholders meeting scheduled for March 23, according to a Form 6-K filed Jan. 27.

As of Jan. 26, US$1 was equivalent to 647.55 Chilean pesos.