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EPM Headquarters as seen from Pueblito Paisa EPM Headquarters as seen from Pueblito Paisa Source: Stormzand Photography

EPM Promises to Give City of Medellin 55% of its Profits from 2020 to 2023

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Medellin-based multinational utilities giant EPM revealed in a June 29 filing with Colombia’s Superfinanciera oversight agency that it has pledged to give 55% of all its profits in 2020 through 2023 to the city of Medellin – its sole shareholder.

According to the filing, 25% of profits will go directly to the city while another 30% of “ordinary surpluses” also will go to Medellin, hence a total of 55% of profits.

The pledge is contained in “Municipal Agreement No. 02 of 2020 - Development Plan of Medellin, Medellin Futuro,” according to EPM.

“This 55% percentage has been stable since 2012 in the EPM surplus distribution structure to the municipality of Medellín,” the company added.

Read 147 times Last modified on Last modified on June 30 2020

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Medellin Herald is a locally produced, English-language news and advisory service uniquely focused upon a more-mature audience of visitors, investors, conference and trade-show attendees, property buyers, expats, retirees, volunteers and nature lovers.

U.S. native Roberto Peckham, who founded Medellin Herald in 2015, has been residing in metro Medellin since 2005 and has traveled regularly and extensively throughout Colombia since 1981.

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