Grupo Aeroportuario del Pacifico Announces the Payment Date of the First Installment of the Dividend Approved at the Ordinary Shareholder’s Meeting

Rhea-AI Summary

Grupo Aeroportuario del Pacífico (PAC) announced a dividend payment of Ps.14.40 per outstanding share, to be paid in installments. The first installment of Ps.7.20 per share will be distributed on May 16, 2022. This decision follows the resolution approved at the Annual General Ordinary Shareholders’ Meeting on April 22, 2022. GAP operates 12 airports in Mexico, including major cities like Guadalajara and Tijuana, and has expanded its international presence with holdings in Jamaican airports.

Positive

• Dividend payment of Ps.14.40 reflects company confidence and commitment to returning value to shareholders.
• First installment of Ps.7.20 per share indicates steady cash flow and financial health.

Negative

• Potential uncertainty surrounding future dividend payments as they are subject to management's estimates and economic conditions.

GUADALAJARA, Mexico, April 28, 2022 (GLOBE NEWSWIRE) -- Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (“the Company” or “GAP”) announces that in accordance with the resolution approved in the Annual General Ordinary Shareholders’ Meeting held on April 22, 2022, regarding the dividend payment of Ps.14.40 (FOURTEEN PESOS 40/100 M.N.) per each outstanding share, the Company decided to execute it in different installments.

The first installment of the dividend payment will be equivalent to Ps. 7.20 (SEVEN PESOS 20/100 M.N.) per each outstanding share and will be paid on May 16, 2022.

Company Description

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are statements that are not historical facts and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that June involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01 800 563 00 47. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

IR Contacts:
Saúl Villarreal, CFO	svillarreal@aeropuertosgap.com.mx
Alejandra Soto, IRO & Corporate Finance Director	asoto@aeropuertosgap.com.mx
Gisela Murillo, Investor Relations	gmurillo@aeropuertosgap.com.mx / +52-33-3880-1100 ext.20294

FAQ

What is the dividend amount for Grupo Aeroportuario del Pacífico (PAC)?

The total dividend amount is Ps.14.40 per outstanding share.

When will the first dividend installment for PAC be paid?

The first installment of Ps.7.20 per share will be paid on May 16, 2022.

How is the dividend for PAC structured?

The dividend will be paid in different installments as decided by the company.

What factors could affect future dividend payments for PAC?

Future dividend payments may be affected by economic conditions and management's estimates.