- Approval Of Cash Dividend Of $0.0755 Dollars Per Share; Equivalent To U.S. $159 Million
According to the company’s website press release on March 7, 2023, Alpek, S.A.B. de C.V. (“Alpek” or the “Company”) held its Annual General Shareholders’ Meeting. The following resolutions were approved:
- Alpek’s 2022 Annual Report, as presented by Armando Garza, Chairman of the Board, and José de Jesús Valdez, Chief Executive Officer until March 1, 2023.
- A cash dividend payment of $0.0755 dollars per share, to be paid in a single installment on March 16, 2023. This payment is equivalent to approximately U.S. $159 million, with an implicit dividend yield of 5.9% based on closing share price and exchange rate for March 6, 2023.
- The proposal for the election of the members of the Board of Directors includes 3 new members, 2 of which are Independent, Montserrat Ramiro Ximénez and Alejandro Mariano Werner, and with great honor, José de Jesús Valdez, as well as the ratification of current members. The addition of new experienced members will certainly boost Alpek’s long-term growth strategy and ESG goals. As a result, Alpek’s board is now comprised of 9 independent board members and the percentage of women serving on the Board has increased to 21%.
- A maximum share repurchasing amount of Ps. $2,000 million for 2023; in line with levels approved in 2022.
