Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Raises Dividend to $1.83 Per Share

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) announced a quarterly dividend on Thursday, July 2nd. Shareholders of record on Wednesday, July 15th will be paid a dividend of 1.827 per share on Monday, July 27th. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, July 15th. This is a 174.4% increase from Fomento Economico Mexicano’s previous quarterly dividend of $0.67.

Fomento Economico Mexicano has increased its dividend payment by an average of 0.3%annually over the last three years. Fomento Economico Mexicano has a payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fomento Economico Mexicano to earn $5.41 per share next year, which means the company should continue to be able to cover its $2.39 annual dividend with an expected future payout ratio of 44.2%.

Fomento Economico Mexicano Stock Performance

Shares of Fomento Economico Mexicano stock traded down $0.07 on Friday, reaching $129.24. The stock had a trading volume of 733,395 shares, compared to its average volume of 538,923. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.16. The business’s 50-day moving average price is $122.43 and its two-hundred day moving average price is $113.12. The stock has a market cap of $44.66 billion, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41. Fomento Economico Mexicano has a fifty-two week low of $83.08 and a fifty-two week high of $131.81.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $2.43 earnings per share (EPS) for the quarter. The firm had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%. On average, sell-side analysts forecast that Fomento Economico Mexicano will post 6.19 EPS for the current year.

Fomento Economico Mexicano Company Profile

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.