Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Increases Dividend to $2.05 Per Share

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) announced a quarterly dividend on Tuesday, January 6th. Stockholders of record on Friday, January 16th will be given a dividend of 2.0531 per share on Monday, January 26th. This represents a c) dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Friday, January 16th. This is a 2.7% increase from Fomento Economico Mexicano’s previous quarterly dividend of $2.00.

Fomento Economico Mexicano has raised its dividend by an average of 0.1%per year over the last three years. Fomento Economico Mexicano has a payout ratio of 42.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 $2.23 annual dividend with an expected future payout ratio of 41.9%.

Fomento Economico Mexicano Price Performance

Shares of NYSE FMX traded down $0.22 during mid-day trading on Wednesday, hitting $100.63. 324,607 shares of the company’s stock traded hands, compared to its average volume of 383,402. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 0.90. Fomento Economico Mexicano has a 1 year low of $81.93 and a 1 year high of $108.74. The company’s 50-day moving average is $98.39 and its two-hundred day moving average is $95.54. The company has a market capitalization of $36.01 billion, a P/E ratio of 40.58, a PEG ratio of 3.99 and a beta of 0.46.

Fomento Economico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). Fomento Economico Mexicano had a net margin of 2.09% and a return on equity of 5.01%. The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $215.60 billion. On average, equities analysts anticipate that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.