Profitability. Regarding the company's capital, it is noteworthy that the initial amount, which barely exceeded 700,000 pesos—that is, less than half of the budgeted amount—was soon supplemented by new amounts. On the one hand, in 1752 a doubling of the capital was approved, charged to the reserves the Company had accumulated during its initial period. In 1766, another similar increase was agreed upon, also charged to the accumulated reserves. By this means, the share capital increased by more than 2,000,000 pesos. Furthermore, and with the aim of expanding the Company's business, it resorted to various loans, for which it paid interest rates ranging from 6% to 2.5%. Its policy at this point was logically to cancel those loans for which it had to pay the most onerous interest. If the effectiveness of a trading company like the Guipuzcoana de Caracas is measured by its profitability, it can be said that this entity was truly efficient. During the 1930s, it distributed annual dividends of around 20%. However, things would change in this regard once the entity's headquarters were moved to Madrid. From 1752 onwards, shareholders were guaranteed an annual distribution of 5%, a situation that continued until practically the end of the company.