Tags: Slim | dividend | cigarette | Carso

Carlos Slim Gets $565 Million Payday on Carso Cigarette Dividend

Monday, 21 Oct 2013 09:26 PM

Billionaire Carlos Slim, the world’s second-richest person, is getting about 7.3 billion pesos ($565 million) in cash as his holding company distributes the proceeds from the sale of its cigarette business.

Grupo Carso SAB, of which Slim controls 80 percent, approved a special dividend of 4 pesos a share, the company said in a filing. The company agreed in May to sell its 20 percent holding in a Mexican joint venture to co-owner Philip Morris International Inc. for about $700 million.

Slim opted to distribute the proceeds to himself and other investors instead of using the cash for Carso’s businesses, which include retail, construction and industrial materials. Arturo Elias, a spokesman for the billionaire, didn’t immediately respond to a phone message seeking comment on the decision.

Carso slid 2.6 percent to 68.61 pesos at the close in Mexico City, before the distribution was announced. The shares have climbed 9.7 percent this year, compared with the 7.7 percent decline of the benchmark IPC index.

Slim, 73, has a net worth of $68.7 billion, trailing only Bill Gates on the Bloomberg Billionaires Index.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
InvestingAnalysis
Billionaire Carlos Slim, the world's second-richest person, is getting about 7.3 billion pesos ($565 million) in cash as his holding company distributes the proceeds from the sale of its cigarette business.
Slim,dividend,cigarette,Carso
181
2013-26-21
Monday, 21 Oct 2013 09:26 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved