Coca Cola FEMSA B de C : Compartamos Juntos #CocaColaFEMSA
March 18, 2020 at 06:25 am EDT
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Mexico City, Mexico - Coca-Cola FEMSA, S.A.B. de C.V. (BMV: KOFUBL; NYSE: KOF) ("Coca-Cola FEMSA" or the "Company"), the largest franchise bottler of Coca-Cola products in the world in terms of sales volume, held its Annual Ordinary General Shareholders' Meeting on March 17, 2020, during which its shareholders approved among other things, the Company's consolidated financial statements for the year ended December 31, 2019, the annual report presented by the Board of Directors, the declaration and payment of dividends corresponding to the fiscal year 2019 and the appointment or reelection of the members of the Board of Directors, the Planning and Finance, Audit and Corporate Practices Committees for 2020.
Specifically, the shareholders' meeting approved the payment of a cash dividend of Ps. 0.6075 per share, (equivalent to Ps. 4.86 per unit) to be paid in two installments; the first installment for the amount of Ps. 0.30375 as of May 5, 2020 and the second installment for the amount of Ps. 0.30375 as of November 3, 2020, for all outstanding shares on the payment date. This dividend payment represents a 37% increase compared to the previous year dividend.
The shareholders' meeting also approved an increase from Ps. 900 million to Ps. 5,000 million as the top amount that could be used for KOF's share repurchase program during 2020.
Coca-Cola FEMSA, S.A.B. de C.V. is a franchise bottler of Coca-Cola trademark beverages across the world. The Company and its subsidiaries are engaged in the production, distribution and marketing of certain Coca-Cola beverages. It is also engaged in acquiring, holding and transferring all types of bonds, shares and marketable securities. The Company's segments include Mexico and Central America division, which comprises Mexico (including corporate operations), Guatemala, Nicaragua, Costa Rica and Panama; the South America division, which consists of Brazil, Argentina and Colombia; Venezuela, which operates in an economy with exchange control and hyper-inflation, and the Asian division, which consists of the Company's equity method investment in Coca-Cola FEMSA Philippines, Inc. The Coca-Cola trademark beverages include sparkling beverages (colas and flavored sparkling beverages), waters and still beverages (including juice drinks, coffee, teas, milk, dairy and isotonic drinks).