FEMSA was listed on the New York Stock Exchange on May 11, 1998. The company has 17,891,131,350 total underlying shares outstanding. These shares are divided into Series D-L Shares, Series D-B Shares, and Series B Shares that trade on the Mexican Stock Exchange in the form of BD Units and B Units and on the New York Stock Exchange in the form of American Depository Shares (ADS's).
To calculate FEMSA's market capitalization take the sum of the B and BD Units and divide that sum by 10 to get 357.82 million ADSs. Then, multiply this number by today's stock price to get the current market capitalization.
The table below illustrates the number of underlying shares in each series and the BD and B Units that these shares represent.
Dividend Rights for Each Class of Share
Each Series D-B and Series D-L Share is entitled to a dividend premium equal to 125% of the dividend distributed to each Series B Share.
Dividends generally are declared, if at all, during the first six months of the fiscal year, which ends on December 31. There is no guarantee that dividends will be declared and, if they are paid at all, they may be lower or higher than those paid in the past.
In accordance to Mexican law, income tax is not withheld from our dividend payments. Click here for our Dividend History.
Voting Rights for Each Class of Share
Holders of Series B Shares are entitled to vote at any ordinary or extraordinary general stockholders meeting. The holders of Series D-L and Series D-B Shares are entitled to vote at stockholders meetings only on the following matters:
changes in FEMSA's corporate form;
mergers with another corporation if FEMSA is not the surviving entity, and mergers with another entity if the corporate purpose of such entity is different from the corporate purpose of FEMSA or its subsidiaries;
change of nationality;
dissolution and liquidation; and
the cancellation of the registration of the Series D-L Shares and Series D-B Shares.
Employee Stock Option Plan
In 1998, FEMSA and its subsidiaries implemented a five-year stock option plan for certain top executives. The plan is administered by trusts that purchase FEMSA BD Units and/or options on FEMSA BD Units on the open market. (The officers of Coca-Cola FEMSA receive Coca-Cola FEMSA Series L Shares and FEMSA BD Units and/or options on either stock.)
Beginning in 2004, FEMSA implemented a new incentive plan for certain top executives based on Economic Value Added (EVA). The plan is administered by a trust that purchases FEMSA BD Units and/or options on FEMSA BD Units on the open market (The officers of Coca-Cola FEMSA receive Coca-Cola FEMSA Series L Shares and/or options).
Share Buy Back Program
In accordance to Mexican law, FEMSA's shareholders approved a maximum amount to be potentially used in share repurchases during the fiscal year 2003. The established amount was 3,000 million pesos. FEMSA, however, has not actively pursued a share buy back program since January 2001.
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