PVD is a Chilean Pension fund administrator. Administradora de Fondos de Pensiones Provida S.A. offers private pension fund administration and related services in the Republic of Chile. The company also holds investments in private pension fund administrators operating in Peru, Ecuador, Mexico, and the Dominican Republic. As of June 30, 2005, it operated 134 branches. The company was incorporated in 1981 and is headquartered in Santiago, Chile. It operates as a subsidiary of BBVA Inversiones Chile, S.A. From the onset of their dividend payments in April of 1995 and continuing until March of 2007, the company was a micro growth hidden gemstone in an almost invisible market (South American financial services). Even during this time laboring in obscurity, they were a solid dividend performer. Throughout this period the dividend was variable, growing from $0.49 in 1995 up into the $1.20 to $2.00+ ranges with a general trend toward increases containing a few notable setbacks from year to year.