Grupo Aeroportuario Del Pacífico, S.A.B. De C.V. (GAP) Announces Proposed Dividend Payment
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) announced that on February 23, 2010, the Companys Board of Directors decided to submit the following items for consideration at the Annual Shareholder Meeting to be held April 27, 2010:
1. Proposal to declare and pay a cash dividend of Ps. 1 billion (ONE BILLION PESOS), to be distributed proportionally between the shares outstanding on the payment date as determined at the Meeting. Management recommends that the dividend be paid in two parts:
a) Ps. 750 million (SEVEN HUNDRED MILLION PESOS) by May 28, 2010.
b) Ps. 250 million (TWO HUNDRED AND FIFTY MILLION PESOS) by November 30, 2010.
2. Proposal for a capital reduction of Ps. 900 million (NINE HUNDRED MILLION PESOS), to be paid in cash and proportionately among the total outstanding shares by May 28, 2010.
The above is a result of the financial strategy that the Company has been implementing since 2007.
GAP will publish a notice for the Annual Shareholder Meeting regarding the items mentioned above and will provide notification in due course of those items that are approved at the meeting as required by the applicable regulations.
Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates twelve airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”.
