Bachoco Announces Cash Dividend
28 April 2022 - 11:00PM
Business Wire
Industrias Bachoco S.A.B. de C.V. (“Bachoco” or “the
Company”) (NYSE: IBA; BMV: BACHOCO) Mexico’s leading
producer and processor of poultry and other food products,
announced today that during the Company’s Annual Shareholder
Meeting, held on April 27th 2022, the Board of Directors approved a
cash dividend payment for 2022.
The cash dividend payment set by the Board amounts to $1.64
pesos per share outstanding or $19.68 pesos per ADR (one ADR equals
to twelve shares).
The dividend will be paid in two equal installments of $0.71
pesos per share equivalent to $9.84 pesos per ADR on the following
dates in 2022: May 18th and July 13th.
COMPANY DESCRIPTION
Industrias Bachoco is the leader in the Mexican poultry
industry, and one of the largest poultry producers globally. The
Company was founded in 1952, and became a public company in 1997,
via a public offering of shares on the Mexican and The New York
Stock Exchange. Bachoco is a vertically integrated company
headquartered in Celaya, Guanajuato located in Central Mexico. Its
main business lines are: chicken, eggs, balanced feed, swine, and
turkey and beef value-added products. Bachoco owns and manages more
than a thousand facilities, organized in nine production complexes
and more than 80 distribution centers in Mexico, and a production
complex in the United States. Currently the Company employs more
than 31,000 people.
The Company is rated AAA (MEX), the highest rating awarded by
Fitch Mexico, S.A. de C.V., and HR AAA which signals that the
Company and the offering both have the highest credit quality by HR
Ratings de Mexico S.A. de C.V.
DISCLAIMER
The document contains certain information that could be
considered forward looking statements concerning anticipated future
events and performance of the Company. The statements reflect
management’s current beliefs based on information currently
available and are not guarantees of future performance and are
based on our estimates and assumptions that are subject to risks
and uncertainties, including those described in our Annual
Information Form, which could cause our actual results to differ
materially from the forward-looking statements contained in this
document. Those risks and uncertainties include risks associated
with ownership in the poultry industry, competition for investments
within the poultry industry, shareholder liability, governmental
regulation, and environmental matters. As a result, there can be no
assurance that actual results will be consistent with these
forward-looking statements. Except as required by applicable law,
Industrias Bachoco, S.A.B. de C.V., undertakes no obligation to
publicly update or revise any forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20220428006183/en/
IR contact information: maria.jaquez@bachoco.net
andrea.guerrero@bachoco.net T. +52 (461) 618 3555
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