Colombian cement producer Cementos de Valle earned profits of 89.2bn pesos (US$32.6mn) in 2003, up 11.6% over 2002, Portafolio reported.  The company has proposed a dividend of 228 pesos per share in six monthly installments between April-September.  A shareholders meeting is scheduled for March 12.  Cementos del Valle is based in Valle del Cauca and is controlled by Grupo Argos.