March 25, 2009 at 12:00 AM EDT
FEMSA Shareholders Approved Ps. 1,620 Million Dividend
FEMSA Shareholders Approved Ps. 1,620 Million Dividend
FEMSA Shareholders Approved Ps. 1,620 Million DividendMonterrey, Mexico, March 25, 2009 Fomento Económico Mexicano, S.A.B. de C.V. (NYSE: FMX; BMV: FEMSAUBD) ("FEMSA" or the "Company") held its Annual Ordinary General Shareholders Meeting today, during which shareholders approved, as required under Mexican securities law, the Company's annual report for 2008 presented by the Board of Directors, the Company's consolidated financial statements for the year ended December 31, 2008, the declaration of dividends corresponding to fiscal year 2008 and the composition of the Board of Directors and Committees for 2009.
Shareholders approved the payment of a cash dividend in the amount of Ps. 1,620 million, consisting of Ps. 0.100985875 per each Series "D" share and Ps. 0.0807887 per each Series "B" share, which amounts to Ps. 0.4847322 per "BD" Unit (BMV: FEMSAUBD) or Ps. 4.847322 per ADS (NYSE: FMX), and Ps. 0.4039435 per "B" Unit (BMV: FEMSAUB). The dividend payment will be split in two equal payments, payable on May 4, 2009 and November 3, 2009. In accordance with Mexican legislation requirements, shareholders approved the maximum amount that can potentially be used for the Company's share repurchase program during 2009, setting the amount at Ps. 3,000 million.
FEMSA is the leading beverage company in Latin America. It controls an integrated beverage platform that comprises Coca-Cola FEMSA, the largest Coca-Cola bottler in the region; FEMSA Cerveza, one of the leading brewers in Mexico, with presence in Brazil, and an important beer exporter to the United States and other countries; and OXXO, the largest and fastest growing convenience store chain in Mexico with over 6,300 stores.
Shareholders approved the payment of a cash dividend in the amount of Ps. 1,620 million, consisting of Ps. 0.100985875 per each Series "D" share and Ps. 0.0807887 per each Series "B" share, which amounts to Ps. 0.4847322 per "BD" Unit (BMV: FEMSAUBD) or Ps. 4.847322 per ADS (NYSE: FMX), and Ps. 0.4039435 per "B" Unit (BMV: FEMSAUB). The dividend payment will be split in two equal payments, payable on May 4, 2009 and November 3, 2009. In accordance with Mexican legislation requirements, shareholders approved the maximum amount that can potentially be used for the Company's share repurchase program during 2009, setting the amount at Ps. 3,000 million.
FEMSA is the leading beverage company in Latin America. It controls an integrated beverage platform that comprises Coca-Cola FEMSA, the largest Coca-Cola bottler in the region; FEMSA Cerveza, one of the leading brewers in Mexico, with presence in Brazil, and an important beer exporter to the United States and other countries; and OXXO, the largest and fastest growing convenience store chain in Mexico with over 6,300 stores.