SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of March 2007
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FOMENTO ECONÓMICO MEXICANO, S.A. DE C.V. |
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(Exact name of Registrant as specified in its charter) |
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Mexican Economic Development, Inc. |
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(Translation of Registrant’s name into English) |
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United Mexican States |
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(Jurisdiction of incorporation or organization) |
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General Anaya No. 601 Pte. |
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(Address of principal executive offices) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
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Form 20-F |
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Form 40-F |
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Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _______
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _______
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
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Yes |
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No |
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If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-_____________
FEMSA Proposed Dividend of Ps. 1,485 Million
Approved at Annual Meeting of Stockholders
MONTERREY, México, March 29, 2007 -- Fomento Economico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) held its Annual General Ordinary Stockholders Meeting today, at which shareholders approved the annual report for 2006 presented by the Board of Directors, the consolidated financial statements for 2006, the declaration of the dividend corresponding to fiscal year 2006, and the composition of the Board of Directors for 2007.
The stockholders approved the payment of an ordinary dividend in the amount of 1,485 million pesos, representing a 51% increase over last year’s amount of 986 million pesos.
The dividend will be paid as of May 15, 2007, upon submittal of Coupon Number 1, as follows: 0.22217 pesos for each Series B share and 0.27771 pesos for each Series D share. This corresponds to actual dividend payments of 1.33301 pesos for each BD Unit and 1.11085 pesos for each B Unit. Therefore, each ADR (NYSE: FMX) will receive a dividend payment of 13.3301 pesos.
In addition, stockholders approved a three-for-one stock split, which is expected to take place during the second quarter of 2007, and 3,000 million pesos as the maximum amount that could potentially be used in stock repurchases, as per Mexican legislation.
José Antonio Fernández Carbajal, Chairman and CEO of FEMSA, commented, “In 2006, we achieved important accomplishments both operationally and strategically, delivering strong results across our business sectors and geographic markets and completing several important transactions that position us to further capture growth opportunities and leverage our business model. The acquisition of Kaiser in Brazil, the announced agreement of Coca-Cola FEMSA to acquire Jugos del Valle, S.A.B. de C.V. jointly with The Coca-Cola Company, and our new cooperative framework with The Coca-Cola Company position FEMSA to compete and create value in complex and challenging environments.”
“I would like to thank the more than ninety-seven thousand men and women that form part of the FEMSA family. These great results were made possible thanks to your talent, creativity, discipline and hard work,” concluded Jose Antonio Fernandez.
The Board of Directors was appointed as follows:
BOARD OF DIRECTORS 2007
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MEMBERS |
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ALTERNATE |
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SERIES “B” |
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HONORARY LIFE |
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CHAIRMAN |
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Eugenio Garza Lagüera |
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Mariana Garza de Treviño |
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CHAIRMAN |
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José Antonio Fernández Carbajal |
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Federico Reyes García |
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Bárbara Garza de Braniff |
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Eva Garza de Fernández |
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José Calderón Rojas |
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Francisco José Calderón Rojas |
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Consuelo Garza de Garza |
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Alfonso Garza Garza |
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Max Michel Suberville |
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Max Michel González |
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Alberto Bailleres |
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Arturo Fernández Pérez |
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Francisco Javier Fernández Carbajal |
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Javier Astaburuaga Sanjines |
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Ricardo Guajardo Touché |
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Othón Páez Garza |
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Alfredo Livas Cantú |
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Sergio Deschamps Ebergenyi |
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Roberto Servitje Sendra |
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Juan Guichard Michel |
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Carlos Salguero |
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Alfonso González Migoya |
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Paulina Garza de Marroquín |
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Carlos Salazar Lomelín |
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Jose Manuel Canal Hernando |
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Ricardo Saldívar Escajadillo |
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SERIES “D” |
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Armando Garza Sada |
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Eduardo Padilla Silva |
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Alexis E. Rovzar de la Torre |
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Francisco Zambrano Rodríguez |
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Helmut Paul |
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Antonio Elosúa Muguerza |
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Lorenzo H. Zambrano Treviño |
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Francisco Garza Zambrano |
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Robert E. Denham |
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José González Ornelas |
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SECRETARIES |
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Carlos Eduardo Aldrete Ancira |
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Arnulfo Eduardo Treviño Garza |
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COMMITTEES 2007 |
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AUDIT COMMITTEE |
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CHAIRMAN |
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Alexis E. Rovzar de la Torre |
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José Manuel Canal Hernando |
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Francisco Zambrano Rodríguez |
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Alfonso Gonzalez Migoya |
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SECRETARY (NON MEMBER) |
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José González Ornelas |
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FINANCE EXPERT |
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José Manuel Canal Hernando |
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FINANCE COMMITTEE |
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CHAIRMAN |
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Ricardo Guajardo Touché |
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Federico Reyes García |
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Robert E. Denham |
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Francisco Javier Fernández Carbajal |
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Alfredo Livas Cantú |
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SECRETARY (NON MEMBER) |
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Javier Astaburuaga Sanjines |
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CORPORATE PRACTICES COMMITTEE |
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CHAIRMAN |
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Lorenzo H. Zambrano Treviño |
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Carlos Salguero |
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Helmut Paul |
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SECRETARY (NON MEMBER) |
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Alfonso Garza Garza |
FEMSA is the leading beverage company in Latin America. It controls an integrated beverage platform that comprises Coca-Cola FEMSA, the largest Coca- Cola bottler in the region; FEMSA Cerveza, one of the leading brewers in Mexico and important beer exporter to the United States; and Oxxo, the largest and fastest growing convenience store chain in Mexico with over 4,800 stores.
FORWARD LOOKING STATEMENTS
This report may contain certain forward-looking statements concerning our future performance that should be considered as good faith estimates made by us. These forward-looking statements reflect management’s expectations and are based upon currently available data. Actual results are subject to future events and uncertainties, which could materially impact our actual performance.
SOURCE Fomento Economico Mexicano, S.A.B. de C.V.
-0- 03/29/2007
/CONTACT: Fomento Economico Mexicano: Investors, +52-818-328-6167, or investor@femsa.com.mx, or Media, +011-52-818-328-6046, or comunicacion@femsa.com/
/Web site: http://www.femsa.com /
(FMX)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned, thereunto duly authorized.
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FOMENTO ECONÓMICO MEXICANO, S.A. DE C.V. |
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By: |
/s/ Javier Astaburuauga |
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Javier Astaburuauga |
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Chief Financial Officer |
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Date: March 29, 2007 |
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