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| Equity | 24.Equity
Ecopetrol S.A.’s authorized capital amounts to $36,540, and is comprised of 60,000,000,000 ordinary shares, of which 41,116,694,690 are outstanding and 18,883,305,310 are treasury shares. Of all outstanding shares, 11.51% (4,731,906,273 shares) are held privately and 88.49% (36,384,788,417 shares) held by the Colombian Government. The treasury shares amounts to $11,500 comprised of 18,883,305,310 shares. As of December 31, 2025 and 2024, subscribed and paid in capital amounts to COP$25,040 and there were no potentially dilutive financial instruments outstanding during the fiscal years ended December 31, 2025, 2024 and 2023. 24.2Additional paid–in capital As of December 31, 2025 and 2024, additional paid in capital mainly corresponds to: (i) share premium from the Ecopetrol Group’s capitalization in 2007, for $4,458, (ii) share premium from the sale of shares awarded in the second capitalization, which took place in September 2011, of $2,118, iii) a $32 share premium from the placement of shares on the secondary market, arising from the calling of guarantees from debtors in arrears, according to the provisions of Article 397 of the Code of Commerce, and (iv) additional paid in capital receivables for ($143) Colombian pesos. 24.3Equity reserves The following is the composition of the Ecopetrol Group’s reserves as of December 31, 2025, and 2024:
(1)The increase in other reserves is due to the General Shareholders’ Meeting of Ecopetrol S.A., held on March 28, 2025, approved the project for the distribution of profits for 2024 and defined to establish a discretionary reserve of $16,635 in order to provide support for financial sustainability and flexibility in the development of the Company’s strategy. The movement of equity reserves is the following for the years ended December 31, 2025, and 2024:
24.4Retained results and dividends The Ecopetrol Group distributes dividends based on its financial statements prepared under International Financial Reporting Standards accepted in Colombia (NCIF, as its acronym in Spanish). The shareholders, in an Ordinary General Meeting of Shareholders held on March 28, 2025, approved the distribution of profits for the 2024 fiscal year and payment of ordinary dividends of $8,799 (2024: $12,829). The dividend paid on the shares corresponds to $214 COP (2024: $312 COP). The shareholders approved the payment of dividends to minority shareholders in two equal installments on April 4 and April 29, 2025. On the other hand, the shareholders approved the payment of dividends to the majority shareholder in three installments, which were made on the following dates: i) April 4, 2025 for $2,200, ii) April 29, 2025 for $2,300 and iii) June 27, 2025 for $3,286. Dividends were paid as follows:
24.5Accumulated other comprehensive income attributable to owners of parent The following is the composition of the accumulated other comprehensive income attributable to the shareholders of the parent, Ecopetrol S.A., net of tax:
24.6Earnings per share
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