10.03.2006 20:22:00
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FEMSA Stockholders Approve Dividend Increase
MONTERREY, Mexico, March 10 /PRNewswire/ --
Fomento Economico Mexicano, S.A. de C.V. (NYSE: FMX) (BMV: FEMSAUBD) ("FEMSA" or "the Company") held its Annual General Ordinary Stockholders' Meeting today, at which shareholders approved the annual report for 2005 presented by the Board of Directors, the consolidated financial statements for 2005, the declaration of the dividend corresponding to fiscal year 2005, and the composition of the Board of Directors for 2006.
The stockholders approved the payment of a dividend for an amount of 986 million pesos, versus 660 million pesos last year.
The dividend will be paid on June 15, 2006, upon submittal of Coupon Number 1, as follows: 0.147514 pesos for each Series B share and 0.184393 pesos for each Series D share. This corresponds to actual dividend payments of 0.885085 pesos for each BD Unit and 0.737571 pesos for each B Unit. Therefore, each ADR (NYSE: FMX) will receive a dividend payment of 8.85 pesos.
In addition, stockholders approved 3,000 million pesos as the maximum amount that could potentially be used in stock repurchases, as per Mexican legislation.
Jose Antonio Fernandez Carbajal, Chairman and CEO of FEMSA, commented, "In 2005, we reinforced our position as one of the world's leading integrated beverage companies. During the year, we leveraged our strengths to generate important advances in our industry, lifting standards in market execution and brand management and furthering our business integration.
"These great results were made possible thanks to the talent, creativity, discipline and hard work of the more than 90,000 men and women that form part of the FEMSA family," concluded Jose Antonio Fernandez.
The Board of Directors was appointed as follows: Board of Directors 2006 SERIES "B" MEMBERS Honorary Life Chairman Eugenio Garza Laguera Chairman Jose Antonio Fernandez Carbajal Eva Garza Gonda de Fernandez Jose Calderon Rojas Consuelo Garza de Garza Max Michel Suberville Alberto Bailleres F. Javier Fernandez Carbajal Ricardo Guajardo Touche Alfredo Livas Cantu Roberto Servitje Sendra Carlos Salguero Mariana Garza Gonda de Trevino Jose Manuel Canal Hernando SERIES "D" Armando Garza Sada Alexis E. Rovzar de la Torre Helmut Paul Lorenzo H. Zambrano Trevino Robert E. Denham Statutory Auditors Ernesto Gonzalez Davila Secretaries Carlos E. Aldrete Ancira ALTERNATE Honorary Life Chairman Paulina Garza Gonda de Marroquin Chairman Federico Reyes Garcia Barbara Garza Gonda Francisco Jose Calderon Rojas Alfonso Garza Garza Max Michel Gonzalez Arturo Fernandez Perez Javier Astaburuaga Sanjines Othon Paez Garza Sergio Deschamps Ebergenyi Juan Guichard Michel Eduardo Padilla Silva Carlos Salazar Lomelin Ricardo Saldivar Escajadilla SERIES "D" Alfonso Gonzalez Migoya Francisco Zambrano Rodriguez Antonio Elosua Muguerza Francisco Garza Zambrano Jose Gonzalez Ornelas Statutory Auditors Ernesto Cruz Velasquez de Leon Secretaries David A. Gonzalez Vessi
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 and important beer exporter to the United States; and Oxxo, the largest and fastest-growing convenience store chain in Mexico with over 4,000 stores.
Forward-Looking Statements
This report may contain certain forward-looking statements concerning our future performance that should be considered as good faith estimates made by us. These forward-looking statements reflect management expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which could materially impact our actual performance.
Contacts: Investors Alan Alanis, FEMSA +52-818-328-6211 alan.alanis@femsa.com.mx Emily Klingbeil +52-818-328-6189 emily.klingbeil@femsa.com.mx, FEMSA Media Jaime Toussaint, FEMSA +52-818-328-6189 jtouelo@femsa.com.mx Carolina Alvear, FEMSA +52-818-328-6046 calvsev@femsa.com.mx
Web site: http://www.femsa.com
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