MEXICO: Femsa gets dividend green light

Femsa, the Mexican brewer and soft drinks group, has received shareholder approval for its latest dividend payment.

Femsa said yesterday (26 March) that it will pay a cash dividend totalling MXN1.62bn (US$113.2m).

The payment consists of MXN0.100985875 for each series D share and MXN0.0807887 per each series B share, totalling MXN0.4847322 per BD unit or MXN4.847322 per ADS, and MXN0.4039435 per B unit.

Payment will be split, with equal payments being made to shareholders on 4 May and 3 November.

The approval was granted at Femsa's AGM, held on Wednesday (25 March), where shareholders also approved the maximum amount that can potentially be used for the company's share repurchase programme this year, setting the amount at MXN3bn.

Last month, Femsa reported a 22% drop in full-year net profits, as currency charges and commodity costs offset rising sales revenues across its business.