Shareholders at Fomento Economico Mexicano (FEMSA) have approved the Mexican company’s annual dividend payment.
FEMSA, which owns bottler Coca-Cola FEMSA, said last week that a dividend of MXN6.684bn (US$520m) will be paid on 18 December.
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The dividend consists of MXN0.416666 per series D share and MXN0.333333 per series B share. The dividend follows Coca-Cola FEMSA completing last month the placement of US$2.15bn worth of senior notes in the international capital markets.
In 2010, Heineken bought FEMSA Cerveza from FEMSA in return for a 20% stake in its business. Heineken last week held an analysts conference in Mexico City, where CEO Jean-François van Boxmeer said European beer drinkers over 50 are leaving the category and the company needs to make its brands “sexy” to attract younger drinkers.
