Martin Arias Yaniz
CFO at Fomento Económico Mexicano
Now that brings me to the capital return to shareholders, where we were quite active in 2024. As Jose Antonio mentioned, we deployed ARS 44,800,000,000.0 or approximately 2,500,000,000.0 at the exchange rate at the time of payment through a combination of ARS 14,400,000,000.0 or ARS $774,000,000 in ordinary dividends, MXN 10,100,000,000.0 or $542,000,000 in extraordinary dividends and MXN 20,300,000,000.0 or $1,200,000,000 in share buybacks. However, given the steady inflows of cash from the divestitures as as well as from our operations, we only managed to get our leverage ratio to 0.45x, far from our medium term objectives of 2x net debt to EBITDA, excluding Corregora FEMSA. As a result, we need to pick up the pace this year. FEMSA's Board of Directors has approved to submit to the twenty twenty five Annual Shareholders Meeting the following proposals: an ordinary dividend of ARS 14,800,000,000.0 or $725,000,000 at current exchange rates, which reflects an increase per unit of 4.2% in pesos compared to 2024, in line with Mexican inflation to be paid in four installments beginning in April of twenty twenty five. Number two, pay an additional extraordinary dividend of ARS32.7 billion or 1,600,000,000.0 at current exchange rates over and above the ordinary dividend to be paid in installments and on the same quarterly schedule and three, allocate to share repurchases an amount of up to ARS 18,400,000,000.0 or 900,000,000 at current exchange rates with such share repurchases to be executed subject to market conditions.