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Dividends are declared by our shareholders at a general ordinary meeting. The dividend declaration is usually based upon the recommendation of our board of directors.
Click here for details of our 2008 dividend distribution.
The following table shows the dividend for the past five years.
| Year |
ADR ex-dividend date |
Cash dividend 1 |
USD equivalent 2 |
Stock option |
| 2007 |
May 8, 2007 |
|
0.75 |
20% discount |
|
| 2006 |
May 5, 2006 |
|
0.67 |
20% discount |
|
| 2005 |
May 6, 2005 |
6.50 |
0.61 |
20% discount |
|
| 2004 |
May 6, 2004 |
5.88 |
0.51 |
20% discount |
|
| 2003 |
May 6, 2003 |
5.50 |
0.52 |
20% discount |
1Mexican pesos per ADR
2Dividends from 2003 to 2005 were declared in Mexican pesos. However, ADR holders electing cash received the dividend in U.S. dollars. These amounts represent the approximate U.S. dollar amount distributed to ADR holders. Dividends in 2006 and 2007 were declared in U.S. dollars.
In 2007, ADR holders were entitled to receive a stock dividend only. ADR holders received one new ADR for every 40.750966 ADRs held. ADR holders could instruct the ADR Depositary to sell all or a portion of the additional stock received as a result of the stock dividend into the market and receive the net cash proceeds from such sales. ADRs were sold into the market at an average price of $38.3998, which resulted in ADR holders who chose this option receiving $0.9423 per ADR held.
Our board of directors will continue to base their recommendation whether to continue to pay dividends and the amount of those dividends on, among other things, our earnings, cash flow, capital requirements, financial condition, and other relevant factors.
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