ALPEK B de C : held its Annual Shareholders' Meeting
March 10, 2021 at 08:20 am EST
Share
Alpek, S.A.B. de C.V. ('Alpek') held today its Annual Shareholders' Meeting, in which the Company's 2020 annual report, presented by Armando Garza, Chairman of the Board, and Jose de Jesus Valdez, CEO, was approved.
Shareholders also approved a cash dividend payment of $0.0596 dollars per share, equivalent to approximately U.S. $126 million, to be paid in a single installment on April 6th , 2021. This payment would imply a strong dividend yield of 6.7% at yesterday's closing share price and exchange rate. Regarding the composition of Alpek's Board of Directors, Shareholders approved the continuity of all current members, as their expertise continues to be well aligned with the company's execution of its long-term growth & ESG strategies. Finally, the Meeting approved a maximum amount of Ps. $2,000 million for share repurchases, maintaining the same level approved during the previous year.
About Alpek
Alpek is a leading petrochemical company operating two business segments: 'Polyester' (PTA, PET, rPET, and polyester fibers), and 'Plastics & Chemicals' (polypropylene, expandable styrenics, caprolactam, and other specialty & industrial chemicals). Alpek is a leading producer of PTA and PET worldwide, one of the largest rPET producers in the Americas, the third largest expandable polystyrene manufacturer worldwide, and the only producer of polypropylene and caprolactam in Mexico. In 2020, Alpek reported revenues of U.S. $5.3 billion and Comparable EBITDA excl. RMCF of U.S. $601 million. The Company operates 31 plants in the United States, Mexico, Canada, Brazil, Argentina, Chile and the United Kingdom, and employs more than 6,000 people.
Alpek SAB de CV is a Mexico-based company engaged in the chemicals sector. The Company's activities are divided into two business segments: Polyester and Plastics & Chemicals. The Polyester division focuses on the manufacture and distribution of purified terephthalic acid (PTA), polyethylene terephthalate (PET) and polyester fiber. The Plastics & Chemicals division is responsible for the production of polypropylene (PP), expandable polystyrene (EPS), caprolactam (CPL), ammonium sulfate, as well as specialty and industrial chemicals, such as surfactants, ethoxilates, glycoethers and desemulsionates. The Company's products are used in a range of industries, including consumer goods, food and beverages, automotive, construction, agriculture, oil and gas, as well as pharmaceuticals. It operates a number of production plants in the Americas. The Company is controlled by Alfa SAB de CV.
ALPEK, S.A.B. DE C.V. 
