Grupo Aval Sample Clauses

Grupo Aval. Grupo Aval Acciones y Valores S.A. (hereinafter the "Company" or "Grupo Aval") is a corporation that was incorporated by Public Deed number 0043 of January 7, 1994; its domicile is located at Xxxxxxx 00 Xx. 00X - 00, Xxxxxx, X.X., Xxxxxxxx. It is an entity regulated by Law 1870 of 2017. This norm specifies that these entities will be subject to inspection and surveillance of the Colombian Superintendency of Finance in its capacity as Financial Holding Company. Its corporate purpose is directed to the purchase and sale of shares, bonds and securities of entities belonging to the financial system and other commercial entities. In the development of its corporate purpose, the Company may acquire and negotiate all kinds of securities, of free circulation in the market, and securities in general; promote the creation of all kinds of related or complementary companies with the corporate purpose. The subscribed and paid-in capital of Grupo Aval is divided into common shares and preferred shares. All shares, common and preferred, represent the same economic interest, except that preferred shares have the right to receive a minimum dividend, which will be paid preferentially with respect to that corresponding to common shares, provided that a dividend has been declared from the resources legally available for such purpose. If dividends are declared, the minimum dividend in favor of preferred shares will be one Colombian peso ($1.00) per share per semester, provided that this minimum preferential dividend exceeds the dividend declared for common shares. Otherwise, i.e., if the minimum preferred dividend is not higher than the dividend declared for common shares, only the value of the dividend declared for each common share will be recognized for each preferred share. 1 Ownership structure Grupo Aval Source: Financial Statements Grupo Aval