- OMA confirms its commitment to shareholder value through this special dividend distribution of up to Ps.11.20 per share.
Mexico City, Mexico, December 22, 2021 — Mexican airport operator Grupo Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA (NASDAQ: OMAB; BMV: OMA), announces today that its Extraordinary and Ordinary Shareholders’ Meeting approved, among other matters, the payment of a cash dividend of up to Ps.4,370 million, or Ps.11.20 per share, and delegated to the Board of Directors the power to determine the amount to be paid out, which will come from accumulated earnings, as well as the date or dates and forms of payment, attending to the Company’s cash flows, cash position, economic conditions, and other factors.
Considering the maximum amount to be declared and paid out, trailing twelve month dividends could represent an aggregate yield of up to 12.2%, using the December 21, 2021 closing market price per share of Ps.133.60.
“Our cash position and our strong cash generation, which is the result of a continued improvement in our passenger traffic levels, as well as the strong performance in our non-aeronautical activities; and the solid balance sheet, reinforce our positive perspectives for the Company going forward, and we believe we can add more value to our shareholders through this special dividend distribution”, added Ricardo Dueñas, OMA’s Chief Executive Officer.
OMA believes that the special dividend will allow the Company to 1) reduce its cost of capital, 2) provide a more adequate return on capital, as measured by net income divided by shareholders’ equity, 3) achieve a more efficient capital structure, and 4) continue to provide adequate returns to shareholders. Additionally, the special dividend is not related to the dividend that may be proposed at the next annual shareholders’ meeting to be held in April 2022.
The declaration of the aforementioned dividend will become effective as of the date the Board makes its determination. Upon determination, the declared dividend will come from the Net Tax Profit Account (“CUFIN”) generated after January 1, 2014.
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