TV Azteca to Distribute Ps.200 Million in Cash to Shareholders on May 28, 2009
TV Azteca to Distribute Ps.200 Million in Cash to Shareholders on May 28, 2009
-The Distribution Marks the Successful Conclusion of Long Term Plan for Uses of Cash
-Accumulated Disbursements Equivalent to US$605 million in Six Years, Represent 51% Yield
MEXICO CITY, May 20 /PRNewswire-FirstCall/ -- TV Azteca, S.A. de C.V. (BMV: TVAZTCA; Latibex: XTZA), one of the two largest producers of Spanish- language television programming in the world, announced that on May 28th, the company will make a Ps.200 million cash distribution to shareholders, which represents Ps.0.07 per CPO, approximately.
This cash distribution marks the successful end of TV Azteca's Six-year Cash Usage Plan, which started in June 2003. The Plan entailed distribution of the benefits of the company's solid cash generation to its shareholders, and projected cash disbursements above US$500 million in six years, as we previously detailed.
The accumulated distributions under the Plan were equivalent to US$605 million, which represents a 51% accumulated yield, according to the company's market capitalization as of May 19th.
Going forward, TV Azteca will continue determining the uses of its cash based on criteria to maximize the value creation for all its shareholders.
Company Profile
TV Azteca is one of the two largest producers of Spanish-language television programming in the world, operating two national television networks in Mexico, Azteca 13 and Azteca 7, through more than 300 owned and operated stations across the country. TV Azteca affiliates include Azteca America Network, a new broadcast television network focused on the rapidly growing U.S. Hispanic market, and Azteca Web, an Internet company for North American Spanish speakers.
TV Azteca is a Grupo Salinas company (http://www.gruposalinas.com/), a group of dynamic, fast growing, and technologically advanced companies focused on creating shareholder value, and improving society through excellence. Created by Mexican entrepreneur Ricardo B. Salinas, Grupo Salinas operates as a management development and decision forum for the top leaders of member companies.
Except for historical information, the matters discussed in this press release are forward-looking statements and are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Other risks that may affect TV Azteca and its subsidiaries are identified in documents sent to securities authorities.
Investor Relations:
Bruno Rangel Dinorah Macias
+ 52 (55) 1720 9167 + 52 (55) 1720 0041
jrangelk@tvazteca.com.mxdmacias@tvazteca.com.mx
Press Relations:
Tristan Canales Daniel McCosh
+ 52 (55) 1720 1441 + 52 (55) 1720 0059
tcanales@gruposalinas.com.mxdmccosh@tvazteca.com.mx
Source: TV Azteca, S.A. de C.V.
CONTACT: Investors: Bruno Rangel, +011-5255-1720-9167,
jrangelk@tvazteca.com.mx, or Dinorah Macias, +011-5255-1720-0041,
dmacias@tvazteca.com.mx, both of TV Azteca; or Media: Tristan Canales, Grupo
Salinas, +011-5255-1720-1441, tcanales@gruposalinas.com.mx, or Daniel McCosh,
TV Azteca, +011-5255-1720-0059, dmccosh@tvazteca.com.mx
Web site: http://www.tvazteca.com.mx/
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