CHIHUAHUA, Mexico (GLOBE NEWSWIRE) — GCC, S.A.B. de C.V. (BMV: GCC* or, “the Company”), a leading producer of cement and concrete in the United States and Mexico, today announced that the General Shareholders’ Meeting held on April 28, 2022, declared a Ps. 1.1621 dividend per share, which comes from the balance of the net earnings on a tax basis corresponding to the fiscal year 2013 and previous years.
The declared dividend will be paid on May 17, 2022, and the payment will be made through S.D. Indeval, against delivery of coupon 19 of the current share certificates.
In addition, GCC will reactivate its previously-authorized stock buyback program. Under the terms of the Company’s plan, purchases may be made from time to time in the open market up to US$50 million.
Enrique Escalante, GCC’s CEO, stated, “This program reflects our confidence in the execution of our business plan and the positive outlook as well as increasing shareholder return. We are confident that eventually, the market will completely recognize GCC’s fair valuation, aligned with our ROIC return, one of the highest in the industry.”
GCC is a leading supplier and producer of cement, concrete, aggregates, and construction‐related services in the United States, Mexico and Canada, with an annual cement production capacity of 5.8 million metric tons. Founded in 1941, the Company’s shares are listed on the Mexican Stock Exchange under the ticker symbol GCC*.