CHIHUAHUA, Mexico, May 05, 2022 (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.”
About GCC
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*.
Forward-Looking Statements
This press release may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, legal, public health crises including COVID-19, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; and pricing, business strategy and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections, and estimates described herein. GCC assumes no obligation to update the information contained in this press release.
For further information, contact:
GCC Investor Relations
Ricardo Martinez
+52 (614) 442 3176
+ 1 (303) 739 5943
rmartinezg@gcc.com
