MONTERREY, Mexico, March 25, 2011 /PRNewswire/ --
Fomento Economico 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 the shareholders approved the Company's annual report for 2010 prepared by the Chief Executive Officer, the Company's consolidated financial statements for the year ended December 31, 2010, the declaration of dividends for the 2010 fiscal year and the election of the Board of Directors and its Committees for 2011.
The shareholders approved the payment of a cash dividend in the amount of Ps. 4,600 million, consisting of Ps. 0.28675 per each Series "D" share and Ps. 0.2294 per each Series "B" share, which amounts to Ps. 1.3764001 per "BD" Unit (BMV: FEMSAUBD) or Ps. 13.764001 per ADS (NYSE: FMX), and Ps. 1.147 per "B" Unit (BMV: FEMSAUB). The dividend payment will be split in two equal payments, payable on May 4,2011 and November 2, 2011. In addition, the shareholders established the amount of Ps. 3,000 million as the maximum amount that could potentially be used for the Company's share repurchase program during 2011.
FEMSA is a leading company that participates in the non-alcoholic beverage industry through Coca-Cola FEMSA, the largest independent bottler of Coca-Cola products in the world in terms of sales volume; in the retail industry through FEMSA Comercio, operating the largest and fastest-growing chain of convenience stores in Latin America, and in the beer industry, through its ownership of the second largest equity stake in Heineken, one of the world's leading brewers with operations in over 70 countries.
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