FEMSA Announces Ordinary Dividend Proposal for 2023

Rhea-AI Summary

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) has proposed an ordinary dividend of Ps. 12,246 million for 2023, pending approval at the annual shareholders meeting on March 31, 2023. This proposal marks a 7.8% increase from the previous year’s dividend. FEMSA is renowned for its diverse operations, including the OXXO retail chain, Coca-Cola FEMSA, and its significant stake in Heineken. With over 350,000 employees across 18 countries, the company aims to create economic and social value while being a responsible employer and community member.

Positive

• Proposed dividend of Ps. 12,246 million represents a 7.8% increase from 2022.
• Continued commitment to generating economic and social value through diverse business units.

Negative

• None.

MONTERREY, Mexico, March 09, 2023 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) announces that its Board of Directors has proposed an ordinary dividend in the amount of Ps. 12,246 million, to be paid during 2023.

The dividend is subject to approval of the annual shareholders meeting to be held on March 31, 2023. This proposal represents an increase of 7.8% compared to the dividend paid during 2022.

About FEMSA
FEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through a Proximity Division operating OXXO, a small-format store chain, OXXO Gas, a chain of retail service stations, and Valora, an operator of convenience and foodvenience formats present in 5 countries in Europe. In the retail industry it also participates though a Health Division, which includes drugstores and related activities and Digital@FEMSA, which includes Spin by OXXO and OXXO Premia, among other loyalty and digital financial services initiatives. In the beverage industry, it participates through Coca-Cola FEMSA, the largest franchise bottler of Coca-Cola products in the world by volume; and in the beer industry, as the second largest shareholder of Heineken, one of the world’s leading brewers with operations in over 70 countries. FEMSA also participates in the logistics and distribution industry through its Strategic Business Unit, which additionally provides point-of-sale refrigeration and plastic solutions to its business units and third-party clients. Across its business units, FEMSA has more than 350,000 employees in 18 countries. FEMSA is a member of the Dow Jones Sustainability MILA Pacific Alliance, the FTSE4Good Emerging Index and the Mexican Stock Exchange Sustainability Index: S&P/BMV Total México ESG, among other indexes that evaluate its sustainability performance.

Investor Contact (52) 818-328-6000 investor@femsa.com.mx femsa.gcs-web.com		Media Contact (52) 555-249-6843 comunicacion@femsa.com.mx femsa.com

FAQ

What is the proposed dividend amount for FMX in 2023?

The proposed dividend amount for FMX in 2023 is Ps. 12,246 million.

When will the FMX dividend be approved?

The FMX dividend proposal will be approved at the annual shareholders meeting on March 31, 2023.

How much did FMX's dividend increase from the previous year?

FMX's proposed dividend represents a 7.8% increase compared to the dividend paid during 2022.

What businesses does FMX operate?

FMX operates in retail, beverage, and logistics industries, with brands like OXXO and Coca-Cola FEMSA.