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Grupo Security's board proposes dividend of 7.25 Chilean pesos per share

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Grupo Security's board proposes dividend of 7.25 Chilean pesos per share

's board plans topropose a dividend payment of 7.25 Chilean pesos per share through the capitalizationof part of the firm's 2015 profits at a shareholders meeting April 28, the companysaid in a press release April 8.

The dividendwould be paid May 9. Combined with a previous dividend payment in October 2015,this would bring the total dividend for the 2015 period to 11.25 pesos per share,according to the release.

GrupoSecurity posted a total profit of 65.02 billion pesos in 2015, which represents6.6% growth from the previous year, while its return on equity reached 12.1% inDecember 2015.

The year-over-yeargrowth in profits was mainly due to an increase in commercial activity in all ofthe group's business areas in the first half of the year, which more than offsetthe negative impact of the global economic downturn on the firm's growth in thesecond half, Grupo Security CEO Renato Peñafiel was cited as saying.

GrupoSecurity operates in Chile's banking and insurance sectors, among others, and recentlyexpanded into Peru's insurance sector through the 2015 acquisition of a stake inLa Positiva Seguros y Reaseguros S.A.

As of April 7, US$1 was worth676.56 Chilean pesos.