The Graña y Montero Group has resolved to update its corporate governance practices by adopting a number of measures designed to pursue company’s management and control with a clear sense of responsibility towards all economic agents, demonstrating transparency and reliability in the information provided to the market and its investors. Accordingly, a Shareholders Assembly Regulation and a Board of Directors Regulation have been created to establish clear rules for management of both governance bodies.Likewise, within the Board of Directors, the Human Resource Management and Social Responsibility Committee, Audit and Process Committee and the Investment and Risk Committee have been established and the Shareholder Service Office has been created.Graña y Montero S.A.A. commits on continuing with the improvement process of its corporate governance standards.
Graña y Montero has been listed on the Lima Stock Exchange since 1997 as GRAMONC1, and in the New York Stock Exchange as GRAM since July 2013. The Company abides by the highest corporate governance standards in Peru, and we are one of only 17 companies in Latin America, and one of only three in Peru, that form part of the Company’s Circle, which recognizes companies for their high corporate governance standards and is sponsored by the International Finance Corporation (IFC), the Organization for Economic Co-operation and Development (OECD) and the Global Corporate Governance Forum.
Graña y Montero’s current dividend policy, adopted on March 26, 2013, is to distribute between 30% and 40% of the net profit from the preceding year. Holders of common shares are entitled to receive dividends on a pro rata basis in accordance with their respective number of shares held.The dividend policy can be modified by a favorable vote of a majority of shareholders and any changes become effective 30 days after approval.