Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Increases Dividend to $2.00 Per Share

Key Points

• Fomento Economico Mexicano has announced a quarterly dividend increase to $2.00 per share, representing a 46.7% increase from its previous dividend of $1.36, with an ex-dividend date set for October 16th.
• The company boasts a payout ratio of 11.0%, indicating that its dividend is well-supported by earnings, with analysts projecting an earnings per share of $5.32 for the upcoming year.
• As of the latest trading day, Fomento Economico Mexicano's stock opened at $92.48 and has a market capitalization of $33.09 billion.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) declared a quarterly dividend on Friday, October 3rd. Stockholders of record on Thursday, October 16th will be given a dividend of 1.9982 per share on Monday, October 27th. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date is Thursday, October 16th. This is a 46.7% increase from Fomento Economico Mexicano's previous quarterly dividend of $1.36.

Fomento Economico Mexicano has a payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fomento Economico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 10.9%.

Fomento Economico Mexicano Trading Down 1.4%

NYSE:FMX opened at $92.48 on Tuesday. Fomento Economico Mexicano has a 12 month low of $81.07 and a 12 month high of $108.74. The firm has a market cap of $33.09 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 5.49 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The company's 50 day moving average is $90.56 and its 200-day moving average is $97.88.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $216.71 billion. Equities analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current year.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.

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