TV Azteca Will Distribute US$46 Million in Cash to Shareholders on June 6, 2007
Tagged: aztec, Mexico, TV AztecaPosted on: May 30th, 2007“TV Azteca, S.A. de C.V. BMV: TVAZTCA; Latibex: XTZA, one of the two largest producers of Spanish- language television programming in the world, announced that on June 6, the company will make a cash distribution to shareholders of US$46 million, equivalent to US$0.016 per CPO.
As previously announced, the TV Azteca Shareholders Meeting held on December 7 approved aggregate distributions for up to US$100 million to be paid during 2007 and 2008, which include the payment announced today.
The cash disbursement of US$46 million is part of the companys ongoing plan to allocate a substantial portion of TV Aztecas cash generation to shareholder distributions of over US$500 million, within a six-year period that began in June 2003.
The distributions under the cash-usage plan made to date, including the payment announced today, represent an aggregate amount of US$541 million, equivalent to a 20% yield, based on the May 28, 2007, CPO closing price.
Previous payments include: US$125 million on June 30, 2003; US$15 million on December 5, 2003; US$33 million on May 13, 2004; US$22 million on November 11, 2004; US$130 million on December 14, 2004; US$59 million on June 9, 2005; US$21 million on December 1, 2005, US$68 million on May 23, 2006; and US$22 million on November 22, 2006.
“The continuous cash distributions made by TV Azteca reflect solid financial results and robust cash generation, and the operating perspectives both in Mexico and the U.S. Hispanic market, as well as future cash generation, are encouraging,” said Carlos Hesles, CFO of TV Azteca.”
Curation from Tomás
Filed Under: 1. Hispanic News, Business, Press Releases
