CELAYA, Mexico, April 23 /PRNewswire-FirstCall/ -- Industrias Bachoco S.A.B. de C.V. ("Bachoco" or "the Company") (NYSE: IBA; BMV: Bachoco), Mexico's leading producer and processor of poultry products, announced today that its Board of Directors approved a dividend payment for 2008 during the Company's Annual Shareholder Meeting held today in Mexico City.
The Board set a cash dividend payment of Ps. 0.5898 per share outstanding and Ps. 7.0776 per ADS (an ADS equals twelve shares).
The dividend will be paid in three equal installments of Ps. 0.1966 per share equivalent and Ps. 2.3592 per ADS on the following dates in 2008: May 14, July 9 and October 8.
Company Description
Industrias Bachoco S.A.B. de C.V. (also referred to in this report as Bachoco or the Company) was founded by the Robinson Bours family in 1952. The Company is the largest poultry company in Mexico, with over 700 production and distribution facilities currently organized in nine complexes throughout the country. Bachoco's main business lines are chicken, eggs and balanced feed; the Company is also present in other business like swine, beef, margarine and turkey, in Mexico. The Company's headquarters are in Celaya, Guanajuato, located in Mexico's central region.
Industrias Bachoco made an initial public stock offering in September 1997. Its securities are listed and traded on the BMV (Bachoco) and on the NYSE (IBA).
For more information, please visit Bachoco's website at http://www.bachoco.com.mx/ or contact our IR department.
This press release contains certain forward-looking statements that are subject to a number of uncertainties, assumptions and risk factors that may influence its accuracy. Actual results may differ. Factors that could cause these projections to differ include, but are not limited to: supply and demand, industry competition, environmental risks, economic and financial market conditions in Mexico and operating cost estimates. For more information regarding Bachoco and its outlook, please contact the Company's Investor Relations Department.
IR Contacts:
Daniel Salazar, CFO
Claudia Cabrera, IRO
Ph. 011 52 (461)618 35 55
inversionistas@bachoco.net
In New York:
Lucia Domville
The Global Consulting Group
Ph. (646) 284 9416
ldomville@hfgcg.com
Industrias Bachoco, S.A.B. de C.V.
