Carso pays $700 mln dividend after Mexico cigarette business sale

Reuters

MEXICO CITY, Oct 21 (Reuters) - Mexican billionaire CarlosSlim's Grupo Carso on Monday said it will pay outa special dividend of around $700 million after selling itsshare of Philip Morris International's Mexico business.

The dividend of 4 pesos per share is worth about 9.159billion pesos ($708.26 million), based on the number of sharesoutstanding in Carso and reported to Mexico's stock exchange.

The payout reflects the proceeds that Carso, a conglomeratethat holds construction, retail and energy businesses, receivedfor its 20 percent stake in Marlboro maker PMI's local unitearlier this year.

Most of that cash will go to Slim's family, which directlyor indirectly owns 79.61 percent of Carso, according to its 2012annual report.

Rates

View Comments (0)