*DJ Colombia's Isagen 2009 Net Up 48% On Year To COP386B >ISAGEN.BO

(MORE TO FOLLOW) Dow Jones Newswires

March 01, 2010 18:50 ET (23:50 GMT)

DJ Colombia's Isagen 2009 Net Up 48% On Year To COP386B

BOGOTA (Dow Jones)--Colombian state-controlled power generation company Isagen SA (ISAGEN.BO) said Monday its net income for 2009 rose 48% from the same period a year ago to 386 billion Colombian pesos ($202 million).

The profit was higher than the COP326 billion expected by the country's largest brokerage, Interbolsa, which recommends buying the shares.

Isagen's board recommended the company's shareholders approve an annual dividend of COP55 per share.

The company mainly operates hydropower plants.

The company had reported a net profit of COP260 billion in 2008.

The government plans to sell its majority stake in Isagen to finance part of its budget deficit.

Isagen's shares rose 0.2% to COP2,230 on Monday, while the IGBC benchmark index ended 0.3% up.

-By Inti Landauro, Dow Jones Newswires; 57-1-694 00 76; colombia@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=VUpxYjrMn%2FN%2By3ZLGHTXHA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

March 01, 2010 18:59 ET (23:59 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.