Paulmann siblings distribute US$252 million in dividends via UK holding company

The Paulmann siblings, who control the retail group Cencosud, have distributed a total of US$252 million in dividends over the last four years through their UK-based holding company, PK One Limited.

According to financial results for the 2025 fiscal year, PK One Limited reported after-tax profits of US$20.7 million, representing a 28.4% decrease from the US$28.9 million recorded the previous year. The company holds a 52.15% stake in Cencosud.

In May 2026, following a US$36.6 million dividend payment from Cencosud S.A., the siblings approved a dividend of US$36.36 million to be paid to Inversiones y Servicios Rupel Limitada, their Chilean-based family office. This structure ultimately connects the British holding company back to Inversiones Quinchamalí Ltda., the original Chilean vehicle used by founder Horst Paulmann to establish Cencosud in 1976.