Dividends

During the Annual General Meeting (AGM), the board of directors presents to the shareholders, for their approval, the financial statements of the previous year. Once these financial statements have been approved, the shareholders determine how the net income for the year (after taxes and employee profit sharing) will be applied. In accordance with the law, prior to any distribution, the Company must set aside 5% of the net income to constitute a reserve until its amount equals 20% of its outstanding capital stock. In addition, shareholders may allocate other amounts to other reserves, including a reserve for the acquisition of the Company’s own shares. The balance, if applicable, may be distributed as a dividend to shareholders in proportion to their respective shareholdings.

All outstanding shares at the time a dividend or distribution is declared (including Series “L” Shares) will be entitled to participate proportionally in it. Dividends or distributions on shares deposited with Indeval (including Series “L” Shares) will be paid through the latter. Dividends or distributions on shares covered by physical securities will be paid upon delivery of the corresponding coupon.

At the Annual General Meeting held on October 31, 2019, a cash dividend of Ps.2 billion was approved, equivalent to Ps.4.719475 per outstanding share. The dividends would be paid no later than October 31, 2020.

Annual Dividends