Chile: CCU announced $40 million dividend to be paid out of 2005 profit

Chile's largest brewer CCU announced on March 9 its board of directors proposed a dividend worth some $40 million to be paid out of 2005 profit.

The board of Directors on its meeting held on March 8, approved to propose to the Regular Stockholders’ Meeting, to be held on April 20, the distribution, with charge to year 2005’s net income, of a Definitive Dividend Nº231, which amounts to Ch$67.37364 per share (Ch$336.8682 per ADR), totalling Ch$21,458,697,837. The Dividend will be paid among its 318,502,872 shares.

Last month, CCU reported that 2005 net profit rose 2.4 percent to 48.153 billion pesos. ($1=530 pesos)

CCU is a diversified beverage company operating principally in Chile and Argentina. CCU is the largest Chilean brewer, the second-largest Argentine brewer, the thirdlargest Chilean soft drink producer, the second-largest Chilean wine producer, the largest Chilean mineral water producer, one of the largest pisco producer and also participates in the confectionary industry in Chile. The Company has licensing and/or joint venture arrangements with Heineken Brouwerijen B.V., Anheuser-Busch Incorporated, PepsiCo Inc., Paulaner Brauerei AG, Schweppes Holdings Limited, Guinness Brewing Worldwide Limited and Watt's Alimentos S.A.

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